Arab Today, arab today dow sp hit best levels since 2007
Last Updated : GMT 19:23:53
Arab Today, arab today
Arab Today, arab today

Dow, S&P hit best levels since 2007

Arab Today, arab today

Arab Today, arab today Dow, S&P hit best levels since 2007

New York - AFP

US stocks surged to new multi-year highs Thursday helped by positive economic data and the European Central Bank\'s new plan to help ailing eurozone countries in the bond market. The S&P 500 and the Dow both registered their best closing levels since December 2007, holding onto strong gains achieved as soon as the markets opened. Banks led the march higher, with Bank of America putting on 5.0 percent and JPMorgan Chase gaining 4.3 percent. Key tech stocks also registered strong gains, with Microsoft rising 3.1 percent, Google adding 2.7 percent, and Cisco surging 4.4 percent. The boost came ahead of the release of important jobs numbers Friday, and set a positive background for President Barack Obama\'s much-awaited address Thursday night to the Democratic Party\'s convention, kicking off the final stretch of the presidential race. Obama, harried by charges he has not done enough for the economy, is running neck and neck with Republican rival Mitt Romney. The Dow Jones Industrial Average finished up 244.52 points (1.87 percent) at 13,292.00. The S&P 500-stock index advanced 28.68 (2.04 percent) to 1,432.12, while the tech-heavy Nasdaq jumped 66.54 (2.17 percent) to 3,135.81. Markets took off from the opening bell and pushed higher as the ECB confirmed its bond market intervention plan, a program aimed at lowering the borrowing costs of the eurozone\'s economically weaker governments and, ultimately, shoring up the eurozone. The ECB plan \"is another step in the right direction that could restore confidence in the euro,\" said Jason Schenker at Prestige Economics. \"It may not be the ideal solution, but ECB and eurozone member political will appears resolute.\" Also helping was encouraging data showing growth picking up modestly in the US services sector and, tentatively, improvement in the jobs market. The Dow\'s 30 blue chips were all in the positive: General Electric added 3.2 percent, Caterpillar 2.5 percent, and Intel 2.9 percent. Amazon jumped 2.1 percent as it unveiled a larger Kindle Fire tablet, taking on the Apple iPad. Apple, the world\'s largest company, market capitalization-wise, was a laggard for the day, rising just 0.9 percent. Also on the Nasdaq, eBay gained 3.7 percent while Seagate was a rare loser, shedding 2.6 percent after getting a rating cut from analysts at Needham & Co. Facebook joined the surge, rising 2.1 percent. Bond prices tumbled. The yield on the 10-year Treasury leaped to 1.67 percent from 1.59 percent Wednesday, while the 30-year yield rose to 2.80 percent from 2.70 percent. Bond yields move inversely to prices.

arabstoday
arabstoday

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 sp hit best levels since 2007 Arab Today, arab today dow sp hit best levels since 2007

 



Arab Today, arab today

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 sp hit best levels since 2007 Arab Today, arab today dow sp hit best levels since 2007

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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