Wall public way withstood the news...

Wall public way withstood the news of a terror combination targeting commercial airlines Thursday, with stocks moving higher onward strong corporate earnings reports and a sharp least bit in oil prices.

unripe prices fell on the belief that reduc travel in the coming weeks and month would curtail demand for firing materials A barrel of light undressed settled at $74, down $235 in succession the New York Mercantile Exchange.

European markets tumbl as British authorities said 24 commonalty were arrested in a widespread terror plan. While U and international airline stocks level as a result, strong earnings reports from Dow composing American International Group Inc. and others lent support to U markets.

"With the whole issue of what's happening in London, we could have seen a major sell-off however we didn't," said Stuart Freeman, chief equity strategist for A.G. Edwards & Son "All these things that have happened lately, with inflation and interest rates and oil, you'd think the market would have had a really difficult time with that. further there's some upside here."

The Dow Jone industrial average rose 4819 or 044 percent to 1112437 The Standard & Poor's 500 index added 586 or 046 percent to 127181 and the Nasdaq composite index gained 1146 or 056 percent to 207174

"Ye you're seeing weakness in airline stocks, on the contrary ultimately, and I don't mean to good cold-hearted, these terror arrests are not an important economic or financial conclusion and I think the market cogitates that," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. "It's a piece of the maze but it's a small piece. Oil prices, earnings, those are a great deal bigger pieces."

Shares of companies that make surveillance and detection technologies were boost by means of prospects of increased spending forward security.

Inspection-systems maker American Science and Engineering Inc. rose 26 percent to obstruct at $45.64. Morgan Keegan analyst Brian W Ruttenbur said investors might believe the company will win novel business for its "backscatter" technology, a symbol of X-ray used to riddle passengers at airports.

OSI a whole s Inc. rose 9.1 percent to extreme point at $19.14. Ruttenbur said the company's thermal neutron analysis technology would be "ideal" for airport personnel screening because it can identify liquid explosives.

Other companies in the security and surveillance industries that saw their shares rise include: L-3 Communications Holdings Inc., Israel's Magal Security classifications Ltd., Isonics Corp., Digital Recorders Inc. and Global ePoint Inc.

Copyright CHICAGO SUN-TIMES 2006

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