September 16, 2009

U.S. markets jump Wednesday

U.S. markets advanced for the third consecutive trading session Wednesday after inflation data came in close to expectations.

The U.S. Department of Labor said consumer prices rose 0.4 percent in August, in line with the consensus forecast. The figure is also strong enough to shake off worries of deflation, yet low enough to keep inflation worries at bay.

Bank of America, Citigroup and General Electric led all companies in trading volume. Istar Financial Inc. led all gainers with stocks rising 27.89 percent.

By close, the Dow Jones industrial average added 108.30 points or 1.12 percent to 9,791.71. The Standard & Poor's 500 added 16.13, or 1.53 percent, to 1,068.76 The Nasdaq composite index rose 30.51, or 1.45 percent, to 2,133.15.

On the New York Stock Exchange, 2,543 stocks advanced and 513 declined on a volume of 6.7 billion shares traded.

The benchmark 10-year Treasury fell 8/32 to yield 3.475 percent.

The euro rose to $1.4724 from Tuesday's $1.4676. Against the yen, the dollar fell to 90.90 yen from Tuesday's 91.06 yen.

In Tokyo, the Nikkei 225 index added 53.15 points, 0.52 percent, to 10,270.77.

In London, the FTSE 100 index rose 1.63 percent, 82 points, to 5,124.13.