Dow hits another intra-day high

The New York equities markets were higher at midday on Monday as earnings reports continue to come in. Over 150 companies listed on the S&P 500 alone are expected to report this week. At mid-session the Dow Jones Industrial Average was 0.9 percent higher to 12,114.11, a new high, while the Nasdaq Composite was up 0.7 percent to 2,359.53 and the S&P had added 0.6 percent to 1,377.17.

Internet search engine Google was still benefiting form its earnings report, issued last week, adding 3.8 percent to $477.15, its highest level ever. Meanwhile in other computer-related news, Apple Computer was 2.1 percent higher to $81.65. In the semiconductors sector, Texas Instruments is expected to report after the end of today’s session.

Wal-Mart gained 3.2 percent to $50.95 after its chief financial officer said that it was planning on slowing capital spending to 2 to 4 percent in fiscal 2008, from 15 to 20 percent this year.

Chewing-gum maker Wrigley gained 14.2 percent to $53.48 on a report that earnings per share in the quarter were above predictions and that its new chief executive will be the first in the company’s history from outside the Wrigley family.

Construction machinery manufacturer Caterpillar added 2.2 percent to $60.30 after having lost 14 percent in Friday’s session on a disappointing quarterly report.

Ford Motor dropped 1.5 percent to $7.89 after it reported that it has lost 62 cents per share in the third quarter, about what had been expected by analysts.

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