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Dow sets 15,000 record close; Disney beats

Tuesday, May 07, 2013 - 02:14

May 7 - Summary of business headlines: New records for the Dow and the S&P 500 as earnings lead the market higher. Walt Disney beats quarterly results before Iron Man 3 and shares hit a lifetime high after the superhero hit the big screen. U.S. temp hiring continues to rise – Adecco exec. Conway G. Gittens reports.

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Wall Street extends its bullish run as the tone for earnings season keeps buyers in the market. The Dow closed above 15,000 for the first time in history, the S&P 500 closes at a historic peak for the fourth-day running, and the Nasdaq squeezed out a gain. After the close, Walt Disney posting better-than-expected results. The entertainment conglomerate enjoying higher revenues for its parks and recreation units, as well as its studio and media operations, although operating income for its broadcast business was down. Shares of Disney rising to an all-time high with Iron Man 3 set to break box office records. Oil and natural gas producer EOG Resources topped quarterly forecasts thanks to higher domestic production. EOG surged 7.6 percent and brought equipment maker Caterpillar along for the ride. Microsoft is planning a major update to Windows 8 by the end of the year. It's been six months since the launch and the sale of 100 million licenses, but the software has not been well received by consumers. On the economic front, Americans are pulling out their credit cards less, according to data by the Federal Reserve. Meanwhile, job openings - steady between February and March at 3.8 million - suggesting little progress when it comes to hiring. But Tonya Lain of Adecco, the world's largest staffing company, says U.S. employers are taking on more temporary staff. SOUNDBITE: TONYA LAIN, REGIONAL VICE PRESIDENT, ADECCO (ENGLISH) SAYING: "They are now opening up some of their hiring budgets, some of them are still maybe a little cautious and not hiring full time so they are now bringing on somebody in a temporary capacity, a lot of positions that maybe at one point over the last two, three years were maybe eliminated or downsized - they are being some contingent labor in to help offset that. So I think we are seeing a lot of that continue to open up for opportunities that eventually we're seeing turn into full-time positions." As for Europe, Adecco says it is seeing to see signs of stabilization in Southern Europe. Finishing up with markets, the German Dax set a record close of its own as stocks climbed higher across the board.

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Dow sets 15,000 record close; Disney beats

Tuesday, May 07, 2013 - 02:14