The New York Times
Wed, December 01, 2010 -- 4:08 PM ET
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Stocks Gain in Broad Rally After Bond Sale; Dow Rises 2.27%
Stocks on Wall Street rallied broadly on Wednesday after
positive developments in Europe and encouraging economic
reports in the United States and Asia gave investors new
confidence.
The Dow Jones industrial average gained 249.76 points, or
about 2.27 percent, to close at 11,255.78 in preliminary
figures, while broader indexes like the Standard & Poorâ??s
500-stock index and the technology-heavy Nasdaq Composite
posted gains of more than 2 percent. The bullish trading on
Wall Street followed strong gains across Europe and Asia.
Positive signs cited by analysts included a strong
manufacturing report from China, new comments from the
European central bank and improving payroll and productivity
statistics from the United States. But the biggest catalyst
appeared to be a successful sale of government debt by
Portugal, regarded as one of the most vulnerable of the
nations using the euro currency.
Read More:
http://www.nytimes.com/2010/12/02/business/02market.html?emc=na
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