Wall Street opened for business Thursday without serious negative or positive news so investors chose to stay positive. For the day more buyers than sellers.
The Dow ended the day up 94.28 points to close at 12,992. The Nasdaq also closed up 37.03 points at 2,533.
Investors initial reaction to the potential sale of appliance park was mixed, but analysts believe long term it could be good news for GE stockholders.
GE remains one of the most widely held stocks in Louisville and across America. Many of you own the stock through mutual funds, in retirement plans, or in a separate portfolio.
Thursday's response to GE's appliance park sale was rather flat on Wall Street. GE's stock trading lower by a few cents. But the GE division at Appliance Park has suffered from the prolonged housing slump. Last October GE stock traded at $42.15. Thursday it is trading in the $32 range.
Analysts say the sale of the division could help GE reach its goal of growing profit by at least ten percent a year.
GE stunned Wall Street last month when it reported a 6 percent drop in first quarter profit, triggering a big sell off of its stock. GE's revised outlook for this year shows growth of 5 percent at best and at worst, no growth.
It looks like going green means more green for Toyota while gas prices are at all time highs. The Prius has become the world's first mass produced hybrid to hit the one million mark in sales.
More than half of those sales have occurred in North America.
It first went on sale a decade ago in Japan and is now being sold in 40 countries.
Toyota says the Prius is its most popular model by far as it gets at least 45 miles to the gallon. The automaker says it plans to sell one million hybrids a year within the next few years.