General Motors Co., the biggest U.S. automaker, rose to the highest price in since July 2011 after reporting a narrower first-quarter loss in Europe than a year earlier and earning more money than analysts had estimated.
When Ford Motor Co. posts fourth- quarter results tomorrow, the numbers probably won’t look great, likely the lowest operating profit of the year. Those figures mask the optimism coming from an unlikely place: Europe.
The Dow Jones Transportation Average surged the most in more than eight months, led by railroad Kansas City Southern, as growing confidence in the U.S. economic recovery strengthens demand for freight shipments.
U.S. stocks rose, sending the Dow Jones Industrial Average to the highest level in five years, as better-than-estimated housing data bolstered economic optimism and European shares rebounded amid gains in Italian bonds.
CSX Corp. and Norfolk Southern Corp., the two largest U.S. eastern railroads, placed among the 20 top gainers on the Standard & Poor’s 500 Index today after their fourth-quarter profits beat estimates.