|
Post by bot on Jan 23, 2015 19:32:55 GMT -5
Late rally pushes U.S. stocks to best gain in two weeks
NEW YORK (MarketWatch) -- A late-afternoon rally pushed U.S. stocks to record their best gains in two weeks, as investors came to grips with the European Central Bank's long-awaited plan to initiate a bond-buying program intended to revive the slumping eurozone economy. The central bank will launch a bond-purchase program worth 60 billion euros, or $69 billion, a month in March. The size and scope of the program was larger than investors anticipated as it is planned to continue until at least September 2016, and is potentially open-ended. The S&P 500 closed 31.03 points, or 1.5%, higher at 2,063.15, having broken through its 50-day moving average. The benchmark index turned positive for the year. The Dow Jones Industrial Average jumped 259.70 points, or 1.5%, to 17,813.98. The Nasdaq Composite ended the day up 82.98 points, or 1.8%, at 4,750.40.
|
|