The Dow Jones climbed more than 50 points after a volatile start to trading on Tuesday, as US Federal Reserve chairman Ben Bernanke forecast unemployment would remain high into 2011.
Shortly after opening, the index was up 50.03 points (0.57%) at 8898.18. Construction and mining equipment manufacturer Caterpillar is at the top of the leaderboard having announced better-than-expected second quarter results, with its share price leaping 11.62% to $40.91. Meanwhile, US lender CIT has seen its share price plummet 19.2% to $1.01 after saying it may need to file for bankruptcy if it cannot tender for notes maturing next month. In London, the FTSE 100 continues to charge higher, up 52.77 points (1.19%) to 4496.39. Supermarket Morrison is building on this morning's ...
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