By Mil Arcega Washington 24 July 2009 The benchmark Dow Jones industrial average of the top US companies broke the 9,000 point mark Thursday on strong earnings reports and an improving housing picture. Wall Street extended its recent gains Thursday after a new housing report showed sales of previously owned U.S. homes rose at an annual pace of 3.6 percent in June. It was the third straight month of rising home sales. "The markets are reacting to the news today in the context of other things they've been seeing and reading in recent weeks, and that's that the economy does appear to have hit a bottom," said David Resler, chief economist at Nomura Securities. Investors reacted positively to earnings reports from Ford, Ebay, AT&T and higher sales of Apple's new iPhone. Resler says the positive earnings give a much needed confidence boost for the struggling U.S. economy. "I think...
Massive Pendet: Around 1,650 dancers of Balinese Pendet from kindergartens to senior high schools perform during an opening ceremony of the 23rd National Science Week for University Students at Ngurah Rai stadium in Denpasar on Wednesday. About 113 universities nationwide take part in the event, which will last until Saturday. The massive Pendet dancing managed to break a national record (MURI). JP/Stanny Angga
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