Wall Street rises despite Euro zone concerns
September 14th, 2011 - 8:52 am ICT by IANSNew York, Sep 14 (IANS) US stocks rose Tuesday even though investors were concerned about the euro zone crisis, Xinhua reported.
The news that China might buy Italian bonds helped encourage investors Monday, however it was denied by an Italian official Tuesday.
Political leaders of Greece, Germany and France will hold a conference call Wednesday to discuss Greek debt problems.
On the economic front, the US labour department said that US import prices fell 0.4 percent in Aug as a result of lower fuel, food and industrial material costs.
Meanwhile, the small businesses optimism index fell 1.8 points to 88.1 in Aug, according to the National Federation of Independent Business, as small business participants were gloomy about future business gains.
CBOE VIX index, the fear index in the market, declined 4.35 percent to 36.91 Tuesday.
The Dow Jones industrial average gained 44.73 points, or 0.40 percent, to 11,105.85. The Standard & Poor’s 500 jumped 10.60 points, or 0.91 percent, to 1,172.87. The Nasdaq Composite Index rallied 37.06 points, or 1.49 percent, to 2,532.15.
The US dollar traded mixed against major currencies in late New York trading Tuesday as investors concerned about euro zone debt crisis and mixed economic data added on uncertainty.
As for oil, light, sweet crude for Oct. delivery jumped 2.02 dollars, or 2.29 percent to settle at $90.21 a barrel on the New York Mercantile Exchange.
In London, Brent crude for Oct. delivery fell 36 cents, or 0.32 percent to close at $111.89 a barrel.
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