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New York stocks extend gains on optimism over U.S. economy.

NEW YORK, Sept. 14 Kyodo

New York stocks advanced for the fourth straight session Friday on lingering optimism about the U.S. economy following the Federal Reserve's decision the previous day to implement the third round of monetary easing in the United States.

The 30-issue Dow Jones Industrial Average added 53.51 points, or 0.40 percent, to end at 13,593.37, the highest finish since Dec. 10, 2007. The tech-heavy Nasdaq Composite Index gained 28.12 points, or 0.89 percent, to 3,183.95.

Stocks drew buying notably in the financial sector from the morning on optimism fueled by Thursday's decision by the Fed's policy-setting Federal Open Market Committee to implement the third-round of monetary easing, with the Dow index briefly surging 110 points, market analysts said.

But the upward momentum was checked by some players who sold shares to lock in profits as the Dow index hovered at its highest level in four years and nine months, the analysts said.
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Publication:Japan Weekly Monitor
Geographic Code:1U2NY
Date:Sep 17, 2012
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