NST Online Business Times : latest

Posted: 14 Sep 2012 05:54 PM PDT

WASHINGTON: US stocks finished higher on 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 percent) at 13,593.37.

The S&P 500 added 5.78 points (0.40 percent) to 1,465.77, while the tech-rich Nasdaq gained 28.12 points (0.89 percent) 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 percent, Freeport McMoran 2.0 percent, Cliff Resources 5.5 percent, and Bank of America 3.5 percent.

Office supply retailer Staples jumped 2.1 percent on talk that several private equity firms are weighing possible efforts to take over the company.

Other retailers gained: Fossil was up 9.6 percent, Kids Brands 13.6 percent, and Oshkosh 8.2 percent.

Apple added 1.1 percent, still riding the wave of its launch of the iPhone 5 this week. But telecoms shares fell, with Verizon and AT&T both losing 2.4 percent, as analysts said the new iPhone would hit their margins. -- AFP

Kredit: www.nst.com.my

Jumaat, 14 September 2012

NST Online Business Times : latest

NST Online Business Times : latest

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