NEW YORK, N.Y. – Stocks are rising as corporate earnings begin on a positive note.Alcoa led a rally in companies that make basic materials after the aluminum maker reported earnings that were better than investors were expecting. Alcoa rose 4 per cent.Technology stocks, which fell sharply over the past week, also rose. Facebook gained 5 per cent.The Standard & Poor’s 500 index rose six points, or 0.3 per cent, to 1,858 as of noon (1600 GMT) Wednesday.The Dow Jones industrial average rose 59 points, or 0.4 per cent, to 16,315. The Nasdaq composite rose 28 points, or 0.7 per cent, to 4,141.Bond prices fell. The yield on the 10-year Treasury note rose to 2.71 per cent. by The Associated Press Posted Apr 9, 2014 10:09 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email US indexes rise as corporate earnings get underway; Alcoa leads a rally in materials stocks
According to the ‘World Investment Report 2014,’ produced by the Geneva-based UN Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) rose 9 per cent in 2013 to $1.45 trillion. “UNCTAD projects that FDI flows could rise to $1.6 trillion in 2014, $1.7 trillion in 2015 and $1.8 trillion in 2016,” the UN agency reported. The predicted rise in FDI would be mainly driven by investments in developed economies as their economic recovery strengthens, but fragility in some emerging markets and risks related to policy uncertainty and regional conflict could derail the gains, said UNCTAD.In addition, direct investment to developing economies is expected to remain high. Developing countries and transition economies constitute half of the top 20 economies ranked by FDI inflows, which includes China, Chile, Colombia and India. Of the total FDI, about 39 per cent was to developed countries, while a new high of $778 billion – or 54 per cent – was reported to developing economies. The top destination remains China and the Asian region, which attracted more than $420 billion in foreign investment last year.This overall growth demonstrates the “great potential of international investment, along with other financial resources, to help reach the goals of a post-2015 agenda,” Secretary-General Ban Ki-moon said in the preface of the report, referring to the development targets that will follow after 2015, the deadline to reach the anti-poverty targets known as the Millennium Development Goals (MDGs).Highlighting the importance of transnational corporations, Mr. Ban added that this year’s report offers an action plan for galvanizing the role of businesses in achieving the future sustainable development goals, as well as enhancing the private sector’s positive economic, social and environmental impacts.These aims will have significant resource implications. Global investment needs are around $5 trillion to $7 trillion per year, according to UNCTAD, the majority of which is in developing countries and includes mainly basic infrastructure, such as roads, water and sanitation, as well as agriculture and rural development, climate change mitigation and adaptation, health and education.