Dow clocks up third triple-digit gain for US stocks
Stocks on Wall Street are on a roll, clocking up their third successive day of triple-digit gains.
Stocks on Wall Street are on a roll, clocking up their third successive day of triple-digit gains.
At today's close (8am NZ time), the Dow Jones Industrial Average was up 135.54 points to 15,326.60.
On Tuesday, the Dow rallied 128 points, adding to the previous session's 141-point gain, marking the sixth advance in September's seven trading sessions.
Traders say the boost has partly come from the defusing of the standoff over Syria, where an American attack over the use of chemical weapons looks unlikely now Russia has proposed they be put under international control.
Economic and corporate news, however, was scant with next week's US Federal Reserve policy-setting meeting being the only thing on the horizon.
It will further discuss a rolling back of Fed stimulus efforts as the US economy recovers.
Among stocks, Apple slumped 5.4%, a day after it unveiled two new iPhone offerings. The stock had rallied 11% in the month leading up to the announcement.
The Wall Street rise boosted the S&P 500 index by 0.3%, stretching its winning streak to seven sessions, the longest since an eight-session run ended on July 15. The index has rallied 18% this year.
Meanwhile, the technology-heavy Nasdaq dropped 0.1%, largely due to Apple’s fall.
Earlier, European and Asia markets rose. Crude-oil futures gained 0.5% to $US107.89 a barrel and gold futures edged down less than 0.1% to $US1363.90 an ounce.
Nevil Gibson
Thu, 12 Sep 2013
Thu, 12 Sep 2013
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Dow clocks up third triple-digit gain for US stocks
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