The markets added to their gains with the Dow closing at a four year high, on news of a better than expected manufacturing report.
The Institute for Supply Management is reporting that factory activity in the US rose unexpectedly to 54.8 in April. That was far better than economists expectations for a reading of 53.
On the earnings front, Pfizer (NYSE:PFE) beat earnings expectations, despite a 19 percent decline in first quarter profit, due to weak sales of its cholesterol drug Lipitor.
Just recently the New York based drug maker agreed to sell its nutrition unit to Nestle and lowered its full year forecast for earnings and revenue to reflect that sale.
BP (NYSE:BP) said first quarter profit fell 19 percent, missing analysts expectations.
Amongst US auto sales, Ford (NYSE:F) and GM (NYSE:GM) fell in April, while Chrysler reported strong sales last month.
Tomorrow, we'll take a look at the ADP Employment Report and we'll also get earnings results from Comcast(NASDAQ:CMCSA) and Time Warner(TWX).
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