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Foreign News Sparks Strong Day for Stocks

Business

0  Updated at 3:01 pm, June 14th, 2012 By: ABC Digital
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Comstock/Thinkstock(NEW YORK) — U.S. stocks jumped on news that central banks from major economies will take action if there is trouble in markets after the Greek elections, according to experts.
 
The Dow ended the day at 12,651.91, up 155.53 points or 1.24 percent.  The S&P was up more than one percent while the NASDAQ added 0.6 percent.

Markets had already been trading higher, apparently anticipating some Fed action here in the U.S.

The big spike came after the news of coordinated global action.
 
Meanwhile, the number of Americans who filed for first time jobless claims rose by 6,000 last week.

The surge in unemployment, plus rising consumer prices could be an indication the Federal Reserve will prepare more monetary stimulus in the near future.

Copyright 2012 ABC News Radio


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