US stocks jumped on ECB decision

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Source: Dukascopy Bank SA
US stocks skyrocketed on Thursday after the ECB unveiled its new short-term debt purchasing program to ease crisis pressure in the Euro area. Positive data from the US labour market also boosted market sentiment. US initial jobless claims dropped more than expected last week while non-farm unemployment tumbled much more than forecast last month. The S&P 500 Index reached its four-year high of 1,432.12. All industries within the index surged. The biggest gains posted basic materials and financials. Airgas, Ecolab and Sealed Air jumped 2.56%, 1.63% and 0.20%, respectively. Among lenders, Comercia, KeyCorp and M&T Bank surged 3.83%, 2.41% and 1.70%, respectively. Meanwhile, Amazon.Com gained 2.10% ahead of its media event where the company was likely to introduce new version of Kindle Fire tablet. News Corp climbed 3.16% on news that the firm lowered its year's bonuses for top-management. Oil and gas companies also soared amid higher crude oil prices after US stockpile report indicated much bigger-than-expected drop in inventories last week.

 

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Fri, 07 Sep 2012 13:48:33 GMT

Dow Jones index soared on positive US data

The Dow Jones index surged on Thursday after long-awaited results of the ECB press conference. The ECB stated that it would buy short-term debt to cut borrowing costs of the indebted members in the Eurozone. Upbeat data from the US jobs market and services industry buoyed the US blue chips. The US services sector activity expanded faster than forecast last

Fri, 07 Sep 2012 14:21:34 GMT

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