US stocks soar as oil prices steady Dow up 1.8%

GMT 21:56 2015 Thursday ,08 January

Arab Today, arab today US stocks soar as oil prices steady Dow up 1.8%

Dow Jones Industrial Average stood
New York - AFP

Wall Street stocks soared Thursday for a second day running as oil prices steadied and investors became more confident of monetary stimulus in Europe.
At the closing bell, the Dow Jones Industrial Average stood at 17,900.29, up 315.77 points (1.80 percent).
The broad-based S&P 500 jumped 36.09 (1.78 percent) to 2,061.99, while the tech-rich Nasdaq Composite Index gained 85.72 (1.84 percent) at 4,736.19.
US oil prices, which have fallen more than 50 percent since June, rose slightly for a second day in a row. Investors have been worried crashing crude prices could be a sign of weakening growth.
European stocks soared on optimism the European Central Bank will take new stimulus measures soon.
"There is some pretty clear evidence" the ECB will soon act, said Hugh Johnson of Hugh Johnson Advisors.
"There's nothing exactly new today, but the situation has changed since a month ago, when it seemed there were too many bureaucratic objections."


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