15 September 2012

USStocks finished higher for a second day after QE3 announcement

WASHINGTON - US stocks finished higher Friday for a second day of gains on the back of the Federal Reserve's new QE3 stimulus, tracing the earlier rises of markets in Europe and Asia.
Mining and energy shares and related industries led the way higher, followed by retailers, all buoyed by prospects for improved growth next year.
The Dow Jones Industrial Average finished up 53.51 points (0.40 per cent) at 13,593.37.
The S&P 500 added 5.78 (0.40 per cent) to 1,465.77, while the tech-rich Nasdaq gained 28.12 (0.89 per cent) to 3,183.95.
Markets worldwide were roundly higher after the Fed announced its QE3 bond-buying programme on Thursday and pledged to keep going with stimulus until the economy and jobs market showed solid signs of sustained growth.
Caterpillar jumped 2.8 per cent, Freeport McMoran 2.0 per cent, Cliff Resources 5.5 per cent, and Bank of America 3.5 per cent.
Office supply retailer Staples jumped 2.1 per cent on talk that several private equity firms are weighing possible efforts to take over the company.

TO SEE COMPLETE REPORT, PLEASE GO TO http://www.businesstimes.com.sg/breaking-news/stock-markets/us-stocks-gain-second-day-fed-qe3-boost-20120915

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