The New York Times
Thu, November 04, 2010 -- 4:15 PM ET
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Indexes Rally on Fed Move and Strong Retail Sales; Dow Gains 2%
Stocks rallied strongly in the United States on Thursday, a
day after the Federal Reserve's decision to buy more
government securities to stimulate the economy.
The Dow Jones industrial average rose 219.71 points, or 1.96
percent, to close at 11,434.84, a two-year high, while the
Standard & Poor's 500-stock index rose 23.10 points, or 1.93
percent, in preliminary figures, and the Nasdaq composite
gained 37.07, or 1.46 percent.
Equity markets have been rising steadily since early
September, partly in anticipation of stimulative steps by the
Federal Reserve, which announced on Wednesday that it would
purchase $600 billion in Treasuries in an effort to push down
long-term interest rates and spark lending. The Dow has risen
more than 14 percent in the past two months, retracing its
losses since the financial crisis took hold in September
2008, while the Standard & Poor's index is up 16 percent.
Read More:
http://www.nytimes.com/2010/11/05/business/05market.html?emc=na
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