Arab Today, arab today dow sp surge into record territory after japan stimulus
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Dow, S&P surge into record territory after Japan stimulus

Arab Today, arab today

Arab Today, arab today Dow, S&P surge into record territory after Japan stimulus

New York Stock Exchange
New York - AFP

The Dow and S&P 500 surged into fresh record territory in opening trade Friday after the Bank of Japan's surprise stimulus move lifted global equity markets.
About 20 minutes into trade, the Dow Jones Industrial Average stood at 17,321.10, up 125.68 points (0.73 percent).
The S&P 500 rose 14.53 (0.73 percent) to 2,009.18, while the tech-rich Nasdaq Composite Index was up 55.77 (1.22 percent) to 4,621.91.
The Dow rushed past 17,355 to a new intraday high at the open before settling back slightly, and was about 40 points above its closing record.
Meanwhile the S&P 500 was about two points shy after earlier topping the 2,011.36 peak set six weeks ago.
The BoJ said on Friday it would add up to 20 trillion yen ($182 billion) to its current asset-buying scheme, bringing it to 80 trillion yen annually, in an unexpected shift aimed at reviving growth just as the US Federal Reserve winds down its own stimulus spree.
Japan's Nikkei 225 soared nearly five percent, while bourses in Britain, France and Germany were all up at least one percent.
"Just as the Fed takes away the punch bowl, the BoJ has turned up with a crate of sake," said Capital Spreads dealer Jonathan Sudaria.

 

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