Dow Jones industrial average rebounds with three-digit gain
BY Associated Press
Saturday, February 23, 2013
2/23/13 at 4:38 AM
Strong earnings from big U.S. companies pushed the Dow Jones industrial average to a rare triple-digit gain Friday, but the S&P 500 index still posted its first weekly loss of the year.
Hewlett-Packard had the biggest gain in the Dow and the Standard & Poor's 500 index. It posted fiscal first-quarter earnings late Thursday that beat all forecasts, a relief after months of bad news for the computer and printer maker. H-P rose 12.3 percent, to $19.20.
Cabot Oil & Gas Corp. was the S&P 500's second-best performer, jumping a day after reporting earnings that beat analysts' expectations. It rose 11.1 percent to $59.81.
The Dow closed up 119.95 points, or 0.9 percent, at 14,000.57 - its third-biggest gain this year. The S&P 500 rose 13.18 points, also 0.9 percent, to 1,515.60. The Nasdaq composite index rose 30.33, or 1 percent, to 3,161.82.
The S&P 500 and Nasdaq closed slightly lower for the week, while the Dow edged higher.