On a positive note, cable provider Time Warner (TWX) beat Wall Street’s expectations by reporting earnings of $0.75/share as compared to the $0.58/share forecasted by analysts. Time Warner states that despite higher costs, an increase in subscribers fueled the better-than-expected performance.
President Barack Obama has officially hit the 100-day mark. These first 100 days for the new administration has surely been busy with a crippled financial system, surging unemployment rates and huge opposition to a record-breaking spending plan. However, it appears that some of the sectors that Obama has been trying to fix are the ones that have performed the best over the past three months. Hopefully, the President’s administration can keep the ball rolling in a positive direction.
The Dow Jones Industrial Average was up about 1.9%, the S&P 500 gained about 2.1% and the Nasdaq jumped nearly 2.5% in morning trading.
Kevin Grewal contributed to this article.