Positive Economic Data Triggers Stock Prices (FCX, XOM, PHM)
By Benzinga Staff
December 16, 2009 3:21 PM
December 16, 2009 3:21 PM
US stocks gained on Wednesday as data on consumer prices and housing indicated that economic recovery is strengthening without triggering inflation.
The news is driving the speculation of Federal Reserve holding interest rates near zero. Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)(FREE stock trend analysis) and Exxon Mobil Corporation (NYSE: XOM)(FREE stock trend analysis) surged as the dollar slipped from a 2-month high, triggering increase in commodity prices and helping Exxon and Freeport-McMoRan. Pulte Homes, Inc. (NYSE: PHM)(FREE stock trend analysis) gained the most among housing stocks as the government said that housing starts increased 8.9% in November.
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