Business

Wall Street got 2009 high.
by Milota Sidorova

Latest news from the American Wall Street report the main index Dow Jones hit 2009 maximum. Let’s skip the chit-chats about reasons to celebrate the end of the crisis and get some facts. Dow Jones literally overnight jumped 203.52 points, or 2.03 percent, to 10,226.94. The other indexes went up as well, The Standard & Poor's 500 Index (.SPX) rose 23.78 points, or 2.22 percent, to 1,093.08, while technologies soared and Nasdaq Composite Index (.IXIC) gained 41.62 points, or 1.97 percent, to 2,154.06. The sharp increase has been linked with weekend meeting of finance ministers of G20 and the central bankers. Although the market got busy Monday afternoon, the gain didn&#! 8217;t mean nothing more than risk gain. Jack Ablin, chief investment officer of Harris Private Bank in Chicago suggested the situation got along with the G20 comments and reached the area of pure risk. So far, central banks around the world were continuing to prop up the economies and support risk taking. When central banks all around the world lower rates investing in risky areas and assets seems to be more attractive for investors. Financial sector did well (as expected), fueled by the top performers this session, considerably with American Express Co (AXP.N) getting up 4.9 percent at $39.05 per share. The KBW bank index (.BKX) gained 3.6 percent. Despite the general sale boost, the U.S. dollar hit deep blue. It went on the contraty ot the mood and fell to a 15-month low. Declining green paper simultaneously pushed up the commodity prices and materials stocks and S&P materials sector index (.GSPM) increased by 3.2 percent.

related story (sgx15855): http://news.yahoo.com/s/nm/20091109/bs_nm/us_markets_stocks;...

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 2:10 PM