subject: Dell earnings bolster US share markets [print this page] Dell earnings bolster US share markets Dell earnings bolster US share markets
SOLID earnings from computer maker Dell helped lift US share markets today and as traders also welcomed an upbeat economic assessment from the Federal Reserve.
Setting the tone for the day, Dell's fiscal fourth-quarter earnings nearly tripled as the computer maker reported strong demand from corporate customers - an indicator of economic revival - and lower component prices.
Its shares were up nearly 12 per cent.
Later in the day the market was buoyed by news that the Fed sharply increased its growth estimates for this year, predicting gross domestic product would rise by 3.4 to 3.9 per cent, versus the 3.0 to 3.6 per cent predicted last November.
The Dow Jones Industrial Average rose 61.53 points (0.5 per cent) to 12,288.17 in closing trades, while the tech-heavy Nasdaq rose 21.21 points (0.76 per cent) to 2825.56.
The broad-market S&P 500 index gained 8.31 points (0.63 per cent) at 1336.32.
Shares were up broadly, with American Airlines and JPMorgan Chase both up over two per cent as the market refused to be shaken by still-anemic US housing data, which showed building starts had bounced modestly off lows seen in the last year, but requests for construction permits sank.
Meanwhile US industrial production fell 0.1 per cent between December and January, a drop blamed by some analysts on wintry weather, which "hampered industrial demand for gas and electricity", according to David Resler of Nomura.
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