Valdosta Daily Times

Top News

April 17, 2014

U.S. stocks close higher for third day in a row

VALDOSTA — Investors drove stock prices to their highest level in a week Wednesday, encouraged by a crop of corporate earnings and reassuring U.S. and Chinese economic data.

Major U.S. stock indexes notched their third day of gains in a row. Yahoo and Delta Air Lines were among the companies posting big gains. The gains were broad; for every stock that declined, nearly four rose.

The market is coming back from a steep drop at the end of last week led by Internet and biotechnology stocks.  That move away from some of the riskier, high-priced stocks that drove down the market is nearly, if not completely done now, said Jim Russell, senior equity strategist at U.S. Bank Wealth Management.

“We did think that last week’s downside volatility would be limited, and we’re very heartened to see a rebound for the first three days this week,” he said.

Stocks started climbing from the opening bell on Wednesday as investors cheered the latest quarterly earnings report from Yahoo. The Web pioneer reported late Tuesday that it is making most of its money from its stakes in two Asian Internet companies: China’s Alibaba Group and Yahoo Japan.

The market also welcomed a Chinese government report showing that the world’s second-largest economy grew 7.4 percent from a year earlier in the January-March quarter. A favorable report on U.S. factory production helped keep investors in a buying mood.

Unlike Monday and Tuesday, the rally didn’t falter during the day. Instead, the buying gained momentum in the afternoon after the Federal Reserve said its latest survey showed economic growth picking up across most of the U.S. over the past two months as bitter winter weather subsided.

“Yesterday was just a crazy day. We were all over the map, and finally today we are showing some strength,” said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank.

1
Text Only
Top News
  • Free Health Fair slated for August 9th

    A free health fair hosted by the 100 Black Men of Brooks-Grady-and-Thomas Counties, Inc. and sponsored by Archbold Hospital will take place on August 9th  from 8:00am until 12 noon.

    July 28, 2014

  • BtpsXVpIgAEXKB-.jpg Manhunt underway for drivers of stolen dump truck

    This morning, around 8:00 deputies from the Lowndes County Sheriff’s Office attempted to stop a dump truck traveling south on I-75.

    July 28, 2014 1 Photo

  • Kingston’s loss means less clout for Ga.

    For two decades, Rep. Jack Kingston was a congressman who routinely crushed his opponents on election night — winning a new term every other year with vote totals between 63 and 77 percent.

    July 28, 2014

  • IMG_3745.jpeg Gas leak on West Adair

    A gas leak has occured on West Adair Street, between Tombs and Oak Street. The leak began just after 11 a.m.

    July 28, 2014 1 Photo

  • salmonella 2 copy.jpg Trial nears for suspects in salmonella case

    Three people accused of scheming to manufacture and ship salmonella-tainted peanuts that killed nine people, sickened more than 700 and prompted one of the largest food recalls in history are set to go to trial this week in south Georgia.

    July 28, 2014 1 Photo

  • AP4507280123 copy.jpg Today in History for Monday, July 28, 2014
    Today is Monday, July 28, the 209th day of 2014. There are 156 days left in the year. 
     

    July 28, 2014 1 Photo

  • Commercial driver training program expanding

    Department of Driver Services (DDS) Commissioner Rob Mikell announced recently an expansion of the commercial driver training program administered by the Agency’s Regulatory Compliance Division. DDS will now offer a Commercial Driver License (CDL) Instructor Training Class for customers who have applied to be CDL instructors. The session will provide additional guidance as the applicants prepare for the final exam.

    July 28, 2014

  • Tentative deal reached on VA reform

    The chairmen of the House and Senate Veterans Affairs committees have reached a tentative agreement on a plan to fix a veterans’ health program scandalized by long patient wait times and falsified records covering up delays.

    July 27, 2014

  • Heat advisory for much of South Georgia

    A heat advisory is in place for much of South Georgia until 7 p.m.

    July 27, 2014

  • 2 injured in western Georgia small plane crash

    Fire officials say two people were hospitalized after small plane crash in western Georgia. 

     

    July 27, 2014

Top News
Poll

Do you agree with the millage rate increases?

Yes. We need to maintain services
No. Services should have been cut.
     View Results