Dow advanced on China's optimism

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Source: Dukascopy Bank SA
© Scanpix/Reuters
Dow jumped on Friday amid optimism over Chinese economy. Morgan Stanley predicted China's economy to expand by 8.2% next year and by 8% in 2014, citing positive impact of recent easing measures of the government. Moreover, upbeat German business sentiment figure lifted US blue chips. The Dow Jones Industrial Average Index surged 1.35% to close at 13,009.68. All sectors climbed. Technology and telecommunication sectors advanced the most. Hewlett-Packard, Microsoft and Cisco Systems jumped 4.19%, 2.78% and 1.95%, respectively. Among telecommunication companies, AT&T and Verizon Communications gained 1.51% and 1.39%. Retailers rallied, supported by expectations that Black Friday boosted sales. Wal-Mart Stores and Procter & Gamble jumped 1.9% and 1.64%. Wal-Mart Stores moved higher despite being alleged in bribery at some of overseas units.


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