| JPMorgan Chase target share price set at 56 |
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| Written by Will Peters | |
| Monday, 26 July 2010 14:25 | |
US shares are moderately higher after the government reported a bigger-than-expected jump in new home sales and FedEx raised its forecast for the current quarter.
Credit Suisse therefore see a potential upside of 40.60% from this morning's open price at 39.83. JPMorgan shares have since moved higher by 0.35% in early trade. Stocks are moderately higher after the government reported a bigger-than-expected jump in new home sales and FedEx raised its forecast for the current quarter. Major indexes have climbed Monday after the Commerce Department said new home sales rose to an annual rate of 330,000 in June. The improvement after sales hit a record low in May eased some of investors' concerns about the housing industry's ongoing slump. FedEx Corp. said its overnight and ground delivery businesses are doing better than expected. Its improved outlook is the latest upbeat earnings news to lift stocks in recent days. FedEx's outlook was the latest piece of upbeat earnings news that have lifted stocks in recent days. The Dow Jones industrial average rose 6 points in early morning trading. If it closes up just 4 points for the day it would move back into positive territory for the year. FedEx raised its earnings prediction for its first fiscal quarter and said it had better than expected growth in its overnight and ground delivery services. Like UPS Inc., FedEx is seen as an economic bellwether. If companies and consumers are shipping more, that points to a strengthening economy. 
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| Last Updated ( Monday, 26 July 2010 14:27 ) |