DOW SURGE BEST ONE-DAY GAIN OF '90S : FINANCE, CONSUMER ISSUES LEAD 126.87-POINT JUMP.Byline: Patricia Lamiell Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Stocks shot higher along a broad front Thursday, as a sharp retreat in interest rates sparked the second-biggest point gain ever for the Dow Jones industrial average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. . The market was led by consumer and financial issues, as bond prices were driven sharply higher on weak economic data and strong demand for a U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. auction of five-year notes. The Dow Jones industrial average soared 126.87 points to 6,473.64, a jump of 2 percent. That was the best one-day gain in the blue-chip index since Oct. 21, 1987, when it rose 186.84, or 10.1 percent, in a rebound from the crash of Oct. 19. It was far from the largest percentage gain, however. The sharp rebound from an early-December sell-off left the Dow within 75 points of its all-time closing high of 6,547.79 on Nov. 25. Hugh Johnson Hugh Johnson may refer to:
strategian, strategist - an expert in strategy (especially in warfare) at First Albany Corp., said the day's strong gains were intensified by buying from short-coverers. These traders had bet on a market decline by selling borrowed stock and then wound up rushing in to buy to limit losses or lock in profits as the market rose. ``The declines we saw last couple of weeks, just like all the declines in the last five years, were short-lived,'' Johnson said. ``It gave the bears just enough encouragement to short stocks, and lo and behold, the mutual funds come back in and squeezed the you-know-what out of the shorts.'' Extra volatility was provided by portfolio adjustments prior to today's scheduled triple expiration of stock options and futures contracts, traders said. The Dow barreled higher from the opening bell, rising 50 points before the first hour of trading had ended. That prompted the NYSE NYSE See: New York Stock Exchange to impose restrictions on computer-driven trading, limits that stayed in place all day. Stocks rose with bonds after the government made a sizable upward revision in its weekly figures on first-time claims for unemployment benefits and said the nation's trade deficit had narrowed by 30 percent in October to $7.99 billion. The jobs figures calmed some jitters jitters 'Butterflies' Psychology An episode of nervousness or anxiety that often precedes a public event; jitters is a type of performance anxiety which may affect actors in a stage production–stage fright or soloist musicians; it may respond to anxiolytics that the economy was growing at an inflationary pace. America's trade deficit narrowed dramatically as U.S. exports climbed to an all-time high. But a surge of auto imports pushed the deficit with Japan to its highest level in 14 months, and the deficit with China hit a record high. The Commerce Department said Thursday that the overall deficit shrank to $7.99 billion in October, down 30.2 percent from September's imbalance of $11.44 billion, which had been the second-worst showing on record. The improvement reflected a big jump in sales of commercial aircraft, which helped offset rising oil imports. Despite the overall improvement, the deficit with Japan shot upward by 30.9 percent in October to $4.96 billion as Japanese autos and auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
News of very strong demand for the Treasury auction of $12.5 billion in five-year notes prompted a doubling in the Dow's already strong daily gains. The 30-year Treasury bond was up about $15 for each $1,000 invested late in the day, pushing its yield, which moves in the opposite direction, down to 6.58 percent from 6.70 percent on Wednesday. Financial stocks, which benefit from lower interest rates, were among the leaders. Chase advanced 3-3/8 to 90-3/4 and Citicorp shares climbed 3-1/8 to 104-1/8. Consumer stocks, such as health care, food and beverages F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , and household products, also were big winners. Advancing issues outnumbered Outnumbered is a British sitcom that aired on BBC One in 2007.[1] It stars Hugh Dennis and Claire Skinner as a mother and father who are outnumbered by their three children. decliners by 7 to 3 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Volume was heavy at 522.32 million shares as of 4 p.m., up from Wednesday's pace. Broad stock indexes were also sharply higher, but like the Dow, they finished below their record highs. |
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