Traders-Blog.com

The blue-chip index ended a four-day losing streak today. Also, the Nasdaq posted solid earnings due to positive economic news on inflation, and improvements in the technology and drug sectors. The Dow rose 56.15 points, to close at 10,127.4, and the Nasdaq rose 19.44 points, to close at 1,932.36. The S&P also posted gains today. The index closed at 1,152.78, after climbing 6.80 points.

Cardinal Joseph Ratzinger of Germany was elected the new Pope today. He chose the name Pope Benedict XVI, and called himself “a simple, human worker”. Ratzinger is the first German pope since the 11th century, and the pope number 265 to the church. In Washington, President Bush congratulated the new Pope by calling him “a man of great wisdom and knowledge.”

Intel, the world’s biggest computer-chip maker announced that net income climbed to $2.15 billion or 34 cents a share, from $1.73 billion, or 26 cents a share, last year. Besides, sales rose 17 percent to $9.43 billion. Intel is benefiting from rising demand for laptops as falling prices attract more customers to choose the portable computers, over the desktops PCs.

Yahoo! Inc. said the first-quarter profit doubled due to selling of advertisements that appear on its Web pages. Net income rose to $204.6 million, or 14 cents a share, from $1001.2 million, or 7 cents last year. Yahoo attracts advertisers, such as Walt Disney Co. and Pepsi, Inc., which want to reach consumers that spend more time using the Internet. Now, Yahoo is capitalizing on the growth of ads linked to Web search results.

Shares of Coca-Cola Co. ended up $1.53 at $42.40 today, after the company reported that earnings from the latest quarter included charges totaling 7 cents a share and gains of 3 cents a share. Last month, Coke announced major changes to its senior management team, and international structure.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter