The worlds leading economy saw its shares climbing up strongly with in fact the Standard & Poor’s 500 Index climbed to its highest level since 2007, as markets rallied around the world on the Federal Reserve’s bond-purchase program while that retail sales rose cheerfully in August.
Accordingly at 9:45 a.m. in New York Dow Jones Industrial Average climbed 64.25 points, or 0.5 percent, to 13,604.11 while that the S&P 500 advanced 0.5 percent to 1,467.40 and the Nasdaq Composite rose by points or percent to
Now Freeport-McMoRan Copper & Gold Inc. and Alcoa Inc. climbed at least 2.6 percent, as commodity prices rallied and Staples Inc. jumped 3.3 percent amid a report private-equity firms are considering buying the largest U.S. office-supplies chain while Analogic Corp. surged 12 percent after profit topped estimates.
Plus Bank of America Corp.’s Savita Subramanian forecast the S&P 500 will rise to 1,600 at the end of 2013, 2.2 percent higher than the previous all-time high of 1,565.15.
As for the dollar index which measures the strength of the green Benjamin in front of a basket of major currencies, it fell to 78.71 to record a high of 79.15 and a low of 79.15 while that the black gold to rose to 99.60 a barrel a high of 100.43 per barrel and a low of 98.19 per barrel.