Sun, Nov 22 2009
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Stocks advance after mixed economic data MADLEN READAP Business Writer Analysts say earnings reports coming in the next few weeks will largely determine which way the market heads in the third quarter. Investors are especially eager to hear what companies have to say about business prospects in the second half of the year. Markets have pulled a stunning recovery since hitting 12-year lows in early March. All the major indexes rose by double-digit percentage points in the second quarter, while the S&P 500 index and the Nasdaq composite index finished higher for the first six months of 2009. Still, the major indexes have pulled back from multi-month highs in mid-June amid growing doubts about the strength of the economy's recovery. Since June 12, the Dow is down 4 percent, the S&P 500 down 2.8 percent and the Nasdaq, 1.5 percent. The Russell 2000 index of smaller companies rose 6.85, or 1.4 percent, to 515.13. The dollar was mostly lower against other major currencies, while gold prices rose. Light, sweet crude rose $1.69 to $71.57 a barrel on the New York Mercantile Exchange. Overseas, Japan's Nikkei stock average fell 0.2 percent. In afternoon trading, Britain's FTSE 100 rose 2.1 percent, Germany's DAX index rose 1.8 percent, and France's CAC-40 jumped 2.4 percent. 
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