Stocks rise smartly in the US

Stocks rose smartly in the United States today as stronger-than-expected earnings from FedEx and Morgan Stanley put investors’ inflation fears on the back burner. The Dow Jones industrial average gained more than 100 points.

Stocks rise smartly in the US
Wed, 21 Jun, 2006 - 23:05

Stocks rose smartly in the United States today as stronger-than-expected earnings from FedEx and Morgan Stanley put investors’ inflation fears on the back burner. The Dow Jones industrial average gained more than 100 points.

Morgan Stanley’s second-quarter profit more than doubled from a year earlier and FedEx saw a 27% jump in its fiscal fourth-quarter earnings. The results quietened concerns about the possibility of an economic slowdown caused by rate rises from the Federal Reserve.

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CourtsBusinessHeathrowPlace: United StatesPlace: Wall StreetPlace: New YorkPlace: USPerson: Jim HerrickPerson: Ed KeonOrganisation: FedExOrganisation: Morgan StanleyOrganisation: Federal ReserveOrganisation: Baird & Co.Organisation: Dow JonesOrganisation: Standard & PoorOrganisation: NasdaqOrganisation: New York Stock ExchangeOrganisation: US Department of EnergyOrganisation: New York Mercantile ExchangeOrganisation: FedOrganisation: Prudential Equity GroupOrganisation: Anadarko PetroleumOrganisation: Noble Corp.Organisation: BJ Services Co.Organisation: Phelps DodgeOrganisation: US SteelOrganisation: FedEx Corp.Organisation: Wall Street
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