24 Jan '11, 10pm

Wall Street surges as Dow nears 12,000-point level

NEW YORK: US stock markets surged on Monday, with the Dow Jones index finishing within striking distance of the symbolic 12,000 point mark, on gains in the technology and materials sectors. "The major equity averages are up with strong gains after stumbling in the early going," said Briefing.com analysts. The blue-chip Dow Jones Industrial Average rose 108.68 points (0.92 percent) to close at 11,980.52, while the broad-market S&P 500 index rose 7.49 points (0.58 percent) to 1,290.84 Meanwhile the tech-rich Nasdaq did even better, rising 28.01 points (1.04 percent) to 2,717.55, as Intel shares rose over two percent. Fellow tech giant IBM saw its shares rise 2.7 percent. US bellwether stocks were among those also posting the most gains, with Caterpillar rising almost two percent, General Electric up 1.5 percent and 3M up 1.2 percent. Major US airlines also led the market gai...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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