SmarTrend Market Close Wrap Up: July 23th, 2010

The major US equity indices closed higher Friday following the majority of banks passing European stress tests. The Obama administration's pay czar Kenneth Feinberg said that he did not attempt to give $1.6 billion to top decision-makers at bailed-out banks, adding that the banks earned shameful reputations as a result. In corporate news, Kimberly-Clark Corp. (NYSE:KMB) closed up 1.08% following a Q2 earnings report that beat consensus estimates by $0.06 on EPS and showed a 2.75% revenue boost to $4.86 billion. Verizon Communications (NYSE:VZ) closed up 3.78%, despite reporting mixed Q2 results. The company reported a fiscal Q2 loss of $0.58 per share, ex-items, beating consensus estimates of $0.56 per share. Revenues fell 0.37% year-over-year to $26.8 billion, missing consensus estimates of $27.10 billion. The Dow Jones Industrial Average (DJI) closed 0.99% higher at 10,424.62 the S&P500 (INX) closed 0.82% higher at 1,102.66 and the Nasdaq Composite (IXIC) closed 1.05% higher at 2,269.47.

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• INX
• IXIC
• DJI
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