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U.S. stocks soar, Dow Gains more than 200 points
Laos News.Net
Thursday 5th November, 2009
U.S. stocks roared on Thursday sending all the major indices sharply higher.
The Dow Jones index climbed above 10,000 for the first time in a fortnight. Interestingly though the Dow is still more than a thousand points below where it was 10 years ago (see accompanying chart).
A higher-than-expected fall in jobless claims, and an advance in busines productivity set the scene for gains throughout the day.
Tech stocks, which did best of all, were inspired by better-than-expected earnings from Cisco Systems.
At the close of trading Thursday the Dow Jones Industrials were up 203.82 points or 2.08% at 10,005.96.
The Nasdaq Composite was up 49.80 points or 2.42% at 2,105.32.
The Standard and Poor's 500 added 20.13 points or 1.92% to 1,066.63.
The U.S. dollar was little changed, fetching 1.6586 against the British pound. The euro was last quoted at 1.4872 around the New York close Thursday, while the Swiss franc was changing hands at 1.0162.
The Australian dollar edged up to .9106. The Canadian dollar was listed at 1.0660, and the Japanese yen at 90.74.  Email this story to a friend
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