Arab Today, arab today dow jumps more than 400 points as us stocks surge
Last Updated : GMT 19:25:30
Arab Today, arab today
Arab Today, arab today

Dow jumps more than 400 points as US stocks surge

Arab Today, arab today

Arab Today, arab today Dow jumps more than 400 points as US stocks surge

Wall Street
New York - AFP

US stocks surged Thursday for the second day in a row following Wednesday's Federal Reserve meeting as investors brushed aside concerns about another drop in oil prices.
The Dow Jones Industrial Average soared 421.28 points (2.43 percent) to 17,778.15.
The broad-based S&P 500 shot up 48.34 (2.40 percent) to 2,061.23,  while the tech-rich Nasdaq Composite Index gained 104.08 (2.24 percent) at 4,748.40.
Thursday's gains marked the second day in a row the S&P 500 has risen more than two percent. Such a two-day streak has not happened since 2002.
"I guess the overriding thing is that the market was very happy with the Fed announcement yesterday," said Chris Low, chief economist at FTN Financial.
The US central bank left in place market expectations that it may raise interest rates only in the middle of 2015 and not sooner.
Low said investors were likely also pleased by Fed Chair Janet Yellen's reassurances that sharply lower oil prices are a net-positive for the economy and that economic fallout from struggling Russia is likely to be limited.
US oil prices tumbled more than $2 a barrel following a volatile session. The big drop in oil prices has rattled equity markets for much of December, but investors cast aside those anxieties Thursday.
Many oil-linked stocks rose even as crude prices fell, suggesting some investors believe the sector has bottomed out. Dow member Chevron rose 2.8 percent, Anadarko Petroleum advanced 3.1 percent and oil-services company Weatherford International gained 2.8 percent.
Banking stocks picked up further momentum after the Fed pushed back the time-frame for a new rule intended to limit their high-risk trade.
Dow member Goldman Sachs jumped 3.6 percent and Morgan Stanley rose 3.7 percent after the Fed delayed implementation for two years of that part of the "Volcker rule".
Information-technology giant Oracle bolted 10.2 percent higher as second-quarter earnings translated into 69 cents per share, a cent above analyst expectations.
Other tech stocks were also strong, including Dow members IBM (+3.8 percent) and Microsoft (+3.9 percent). Tech giant Apple soared almost three percent on the Nasdaq.
Packaged food company ConAgra fell 1.4 percent on news that second-quarter net income shrank to $10 million from $248.7 million in the year-ago period following a large charge in its private brands segment, which includes snacks, pasta and retail bakery goods.
Bond prices fell. The yield on the 10-year US Treasury rose to 2.20 percent from 2.15 percent Wednesday, while the 30-year advanced to 2.81 percent from 2.75 percent. Bond prices and yields move inversely.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dow jumps more than 400 points as us stocks surge Arab Today, arab today dow jumps more than 400 points as us stocks surge

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes

GMT 03:20 2017 Saturday ,25 March

Markets hanging on US health care bill fallout

GMT 15:44 2017 Wednesday ,22 March

Bahrain Bourse daily trading report

GMT 13:35 2017 Wednesday ,22 March

Oman shares fall taking cues from regional bourses

GMT 09:35 2017 Wednesday ,22 March

Bahrain Bourse daily performance

GMT 09:33 2017 Wednesday ,22 March

Alba approves US$80M cash dividend at AGM
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Haifa Wahby bets on her new drama show

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 22:19 2017 Friday ,24 March

Reveals reasons of hepatitis in Algeria

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday