InfoAnda - U.S. Markets Jump On China's European Comments

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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles U.S. Markets Jump On China's European Comments Email Facebook Digg Twitter Buzz Up! ShareThis May 27, 2010 5:42 p.m. EST Topics: market and exchange, economy, business and finance, securities, United States Mitchell Jaworski - AHN News Reporter New York, NY, United States (AHN) - U.S. markets rose with a rallying Euro as fears over European debt eased after China said it remains a long-term investor in Europe. The shot of confidence helped the Dow Jones Industrial average shoot back through the 10,000 level just a day after closing below the mark for the first time in several months. The blue-chip index added 285 points or 2.9 percent on the session to close at 10,259. 29 of 30 Dow components finished the day with a gain. Johnson & Johnson (NYSE: JNJ) was the only decliner, down 0.2 percent. American Express (NYSE: AXP), up 5.7 percent, was the largest Dow gainer as financials were strong on a whole. The credit card company also received an analyst upgrade from investment firm Sandler O’Neil. The S&P 500 rose 35 points or 3.3 percent as 98 percent of stocks in the index finished the session higher. All 10 major economic sectors finished the day higher. Financials were the big winner, with the sector adding 4.5 percent on Thursday. Energy followed with a 4.2 percent gain. The Nasdaq Composite surged 82 points or 3.7 percent as chipmakers helped push the tech heavy index. The Philadelphia Semiconductor Index jumped 5.2 percent on Thursday. Crude oil rebounded sharply a second straight day, adding 4.2 percent to settle at $74.50 a barrel on the New York Mercantile Exchange. On the economic front, , the Labor Department said new jobless claims for the week ended May 22 fell to 460,000 from 474,000 a week prior. However, economists were expecting a steeper decline to 455,000. Friday’s market will see the release of April personal spending, followed by a May reading of the Chicago Purchasing Manager Index (PMI). Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories Air Force Tests Hypersonic Experimental X-51 Jet To Favorable Reviews Vienna Tops Mercer Quality Of Life 2010 Survey Sri Lankan Minister Leaves National Press Club Without Addressing Journalists U.K. Scientist With Implant First To Be Infected With Computer Virus Neck Injury Forced Tito Ortiz To Leave The Ultimate Fighter Tsunami Warning Cancelled For Pacific Islands Indonesian Toddler Addicted To Cigarettes, Smokes 2 Packs Per Day Slipknot Pay Tribute To Paul Gray During Emotional Press Conference Sandra Bullock To Accept Generation Award At MTV Movie Awards Kim And Khloe Kardashian Share Weight-Loss Secrets Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

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