Wednesday, April 06, 2011
The financial sector led U.S. stocks higher on capital-raising plans from several European banks, but earnings from Monsanto limited the climb. The Dow Jones Industrial Average rose .3% to its highest close since June of 2008. Leading the Dow's advance, Cisco Systems jumped 4.9%. Cisco Chief Executive, John Chambers, suggested that changes to the technology company's operations, and possibly cost cuts, would be coming. Financial components were also strong following a rally in European financial stocks after European banks announced plans to raise capital. DJIA +32.85 Nasdaq +8.63 S&P 500 +2.91.