Stocks Surge, Dow Rises 1 Percent

U.S. stocks extended gains on Thursday, with the Dow Jones industrial average up 1 percent, as upbeat retail  sales and labor-market data overcame worry about Japan. The Dow Jones industrial average was up 180.85 points, or  1.21 percent, at 15,176.08. The Standard & Poor’s 500 Index was up 23.84 points, or 1.48 percent, at 1,636.36.  The Nasdaq Composite Index was up 44.94 points, or 1.32 percent, at 3,445.37.

The Federal Reserve will use its meeting next week to try to calm fears that the central bank is nearer to  raising short-term interest rates, according to a report from the Wall Street Journal’s Jon Hilsenrath on  Thursday.

Microsoft Corp said it would open 500 special stores within existing Best Buy Co Inc stores in the United States  selling exclusively Windows-based tablets and computers and other Microsoft products in an effort to revitalize  sales of its flagship operating system.

Treasurys held onto gains Thursday despite a disappointing auction of 30-year bonds, as concerns about the Bank  of Japan’s monetary easing policies rippled through global markets. The 10-year Treasury note yield, which moves inversely to price, fell 4.5 basis points to 2.186%. The 5-year note yield slipped 4 basis points to 1.110% and the 30-year bond yield dropped 3.5 basis points to 3.337%.

The U.S. dollar pared losses against the yen in late trade Thursday, after earlier hitting a two-month low. The dollar bought 95.12 Japanese yen in recent trade, down from ¥95.61 late Wednesday in North America.

About the Author

has written 14764 stories on this site.

Copyright © 2012 Nine Stocks