Wednesday, January 7, 2009

Wall Street ends with moderate gain; Dow 62 up pts & Asian markets trading higher; Nikkei up 2%

US markets ended higher on as optimism over the Obama’s stimulus plan. In economic data, November pending home sales fell by 4% to lowest level since 2001. November factory orders fell 4.6%.
Pain continues for US companies, Bank of America says that 2008 results may be lower than expectations while Alcoa announced more job cuts.
The Dow Jones industrial average gained 62.21 points, or 0.69%, to 9,015.10. The S&P 500 index rose 7.25 points, or 0.78%, to 934.70. The Nasdaq composite index gained 24.35 points, or 1.50%, to 1,652.38.

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