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Wall street closes strong on earning

This article was posted on Nov 14, 2009 and is filed under Market News

Wall street yesterday closed on a positive note following quartely results from Quarterly results from media powerhouse Walt Disney.

The S&P consumer discretionary sector rose 1.6 percent even as the Reuters/University of Michigan preliminary November Surveys of Consumers showed U.S. consumer confidence fell to its weakest level in three months amid grim expectations for job and income prospects.

Walt Disney Co posted a surprise jump in profit and announced an executive job switch that might point to a successor to CEO Robert Iger.

For the week, the Dow rose 2.5 percent, while the S&P 500 advanced 2.3 percent, and the Nasdaq gained 2.6 percent.

The S&P 500 gained 6 points, or 0.6%, to end at 1,093.48, taking its weekly advance to 2.3%. The Nasdaq index gained 19 points, or 0.9% to settle at 2,167.88. For the week, it was up 2.6%.

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