Business News
Wall Street up on economic growth, manufacturing data
Sep 1, 2010, 23:37 GMT
New York - Stocks rose Wednesday on Wall Street, following world markets higher on economic growth in Australia and US manufacturing data.
The Institute for Supply Management's manufacturing gauge rose in August, despite predictions it would decline, Bloomberg financial news reported. Australia's gross domestic product rose 1.2 per cent in the second quarter, prompting gains in Asian markets before boosting Wall Street.
The blue-chip Dow Jones Industrial Average rose 254.75 points, or 2.54 per cent, to 10,269.47. The broader Standard and Poor's 500 Index increased by 30.96 points, or 2.95 per cent, to 1,080.29. The technology-heavy Nasdaq Composite Index was up 62.81 points, or 2.97 per cent, to 2,176.84.
The US currency fell against the euro to 78.07 euro cents from 78.89 euro cents on Tuesday. The dollar gained against the Japanese currency to 84.43 yen from 84.04 yen.
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