Around the World's Markets: NEW YORK
US STOCKS rose for the sixth time in seven days on optimism that Federal Reserve interest rate cuts will keep the US economy out of recession. Banks and small stocks led the gains.
The Dow Jones Industrial Average rose 49.69, or 0.6 per cent, to 8466.45. The Standard & Poor's 500 Index gained 5.97, or 0.6 per cent, to 1062.39, and the Nasdaq Composite Index jumped 27.78, or 1.7 per cent, to 1648.73.
US bonds were little changed, leaving yields not far from three-decade lows.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies