US stocks gain on financial firms
March 11th, 2010 - 7:56 am ICT by IANSNew York, March 11 (DPA) Major stock indices closed higher Wednesday amid gathering optimism about the US economy, with shares of financial firms leading the stock market.
US wholesalers reported a drop of 0.2 percent in inventories in January, which was widely interpreted as a sign of rising demand.
Share prices for major banks and insurers helped drive the increase in the broader stock market. The financial subset within the Standard and Poor’s 500 Index was up for a ninth straight trading session, the sectors longest share rally in 12 years, according to the Bloomberg financial news agency.
The blue-chip Dow Jones Industrial Average added 2.95 points, or 0.03 percent, to 10,567.33. The broader Standard and Poor’s 500 Index gained 5.16 points, or 0.45 percent, to 1,145.61. The technology-heavy Nasdaq Composite Index jumped 18.27 points, or 0.78 percent, to 2,358.95.
The US currency was off against the euro at 73.23 euro cents from 73.53 euro cents Tuesday. The dollar rose against the Japanese currency to 90.51 yen from 89.99 yen.
- US stocks gain on financial firms - Mar 10, 2010
- US stocks climb, Dow briefly reaches positive 2010 - Mar 03, 2010
- US stocks post gains on back of financials - Aug 14, 2009
- Housing, finance lead US stocks lower - Oct 27, 2009
- US stocks surge on first trading day of 2010 - Jan 05, 2010
- US stocks edge lower, despite consumer optimism - Dec 30, 2009
- US stocks drop on disappointing earnings - Feb 04, 2010
- Economic optimism spurs US stocks - Apr 21, 2010
- US stocks mixed ahead of earnings reports - Oct 08, 2009
- US stocks decline as Gulf oil spill continues - Jun 02, 2010
- US stocks drop amid mixed earnings - Oct 21, 2009
- US stocks fall on stalled European economy - Feb 13, 2010
- US stocks decline at end of poor week - May 16, 2009
- US stocks end strong week on a high note - Nov 14, 2009
- US stocks stay low for straight day - Dec 15, 2011
Tags: bloomberg financial news, blue chip, dow jones, dow jones industrial, dow jones industrial average, dpa, inventories, japanese currency, major stock indices, march 11, nasdaq composite index, news agency, optimism, s 500, share prices, stock market, trading session, us currency, wholesalers, yen