Traders-Blog.com

U.S. stocks ended higher today, mainly due to a surge in Google shares, and reports that Apple computer, Inc. may begin using Intel Corp. chips in its Macintosh computers.The Dow rose 51.65 points, to close at 10,523.56. Besides, the Nasdaq, posted gains, and the S&P is at a two month high. The Nasdaq rose 10.23 points, to close at 2,056.65. While, the S&P increased to 1,193.86, after rising 4.58 points.

A gauge of industrial shares increased 1 percent, which accounted to almost a fifth of the S&P’s advance. 3M, which is the maker of 55,000 products that include Post-it notes software, added $1.47 to $78.53. Besides, United Technologies Corp., the maker of jet engines and air conditioners, jumped $2.49 to $107.64, showing a record high.

Besides, Wal-Mart climbed 67 cents to $47.85. This increase was due to an increase in May sales, which rose as much as 4 percent, since shoppers spent more on foods. Sales climbed 3.1 percent in the quarter ended April 30. And, Target Corp., the second discount chain, added 25 cents to $52.14. According to Target, sales this month are rising at the high end of its forecast for a 3 percent to a 5 percent increase at stores open at least for one year.

Intel Corp. shares rose 0.6 percent, after the Wall Street Journal reported that Apple Computer Inc. is considering using Intel chips in its Macintosh computer line. Also, Apple Computer Inc. rallied $2.21 to $39.76. Adopting Intel Corp’s chips would allow Apple to develop Macintosh systems that could match the performance and lower prices of products from rivals such as Dell Inc.

Finally, shares of Google Inc., jumped 5.7 percent to $255.53 amid speculations that it may be added to the S&P index. Until last week, Google was still underweighted by institutions. While the percentage ownership by the top 10 institutional investors rose from 8 percent last September, to 20 percent in December, it is still lower than that of Yahoo, at 34 percent, of eBay, at 27 percent, and of Amazon.com, at 52 percent.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter
Guaranteed monthly gains of 8% or your money back.