The U.S. markets ended the third consecutive session in positive territory after a late sprint, and rose three major indexes after better-than-expected data on new applications for unemployment benefits in the country and the statements of EU officials on efforts to recapitalize banks inspired buyers before the expected employment data tomorrow. Dow Jones industrial average advanced 1.7 percent to 11 123.33 points, led by shares of Bank of America, appreciated by 8.8 percent to 6.28 dollars, and those of Alcoa, appreciated by 5.4% to 9.88 USD. For the past three days the index has gained over 4%. Standard & Poor `s 500 index rose 1.8 percent to 1 164.97 points, and the 10 sector ended it in a profit led by the banking sector over the last three days growth is over 6%. Nasdaq Composite Index advanced 1.9 percent to 2 506.82 points, bringing his winnings to over 7% for 3 days of growth.
“I still react to the top titles – a relief that banks will be supported by the ECB, but it is a short response … and it looks bad news for financial institutions in the long run”, said Brian Betal, vice president of business affairs at Performance Trust Capital Partners, after earlier European Central Bank today announced that it will continue its program of buying bonds that will provide sufficient liquidity for banks in the euro area.
New applications for unemployment benefits rose by 6,000 to 401,000 from the previous week’s revised 395,000, remaining below the expectations of analysts. The shares of Apple Inc., Which lost their inspiration from Steve Jobs, registered a slight change with a loss of 0.2% in value to 377.37 USD.

Tags: index, Nasdaq, US Indexes, USA

This entry was posted on Friday, October 7th, 2011 at 8:29 am and is filed under USA Finances. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.