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Stocks surge to new highs on ECB bond-buying plan
|Last Edited||RP Sep 06, 2012 04:18pm|
|News Date||Thursday, September 6, 2012 11:00:00 PM UTC0:0|
|Description||Stocks in the U.S. and Europe soared and the euro rose on Thursday after the European Central Bank announced a bond-buying program to deal with the euro zone's debt crisis. |
he U.S. Dow Jones industrial average (.DJI) was up 217.11 points, or 1.66 percent, at 13,264.59 late afternoon in New York. The Standard & Poor's 500 Index (.SPX) was up 26.43 points, or 1.88 percent, at 1,429.87, its highest level in four years.
The rise in U.S. stocks was helped by reports showing American companies added staff in August at the fastest clip in five months and an improvement in service sector employment. A third report showed new claims for jobless benefits fell last week to the lowest level in a month.