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Thanks to companies, such as Starbucks Corp., and others that released their annual profit forecasts and earnings, the Nasdaq and the S&P reached their four-year high. The Dow, which has also gained an average of 4.2 percent in July, closed at 10,705.55, after rising 68.46 points. Besides, the Nasdaq rose 12.22 points, to close at 2,198.44. Meanwhile, the S&P rose 6.93 points, to close at 1,243.72.

Starbucks climbed $2.33 to close at $52.68. The company also expects the per share profit of this year to be about $1.19 to $1.20, which is higher than previous forecasts of $1.17 to $1.19. Besides, Express Scripts Inc., which is the third biggest U.S. pharmacy benefit manager, said that it will earn $2.37 to $2.42 per share in 2005. Among other companies that posted gains, UnitedHealth Group Inc., which is the second medical insurer provider, added $1.50 to close at $52.92. In general, health care shares rallied 0.9 percent today.

Although the price of oil rallied, investors chose to look at earnings of companies as a better indicator for the outlook of the economy. Crude for September delivery closed at $59.95, which shows an increase of 84 cents. The increase in price was caused after news reported that Murphy Oil Refinery shut a diesel hydrotreater because of a fire, although there were not really great damages. Investors are concerned that in the following weeks, refineries will not be able to meet demand of consumers.

Daimler-Chrysler’s shares rallied after Chief Executive Officer Juergen Schrempp announced that he would not longer manage the company. Dieter Zetsche will replace Schrempp. Daimler-Chrysler’s stock increased $4.29 to close at $48.26. Besides, Daimler-Chrysler reported a 28 percent jump in second-quarter profits, due to a high demand for new cars and trucks of Chrysler, which offset weak sales from Mercedes-Benz business.

All the best,
Manuel Jesus-Backus
The Portfolio Crafter