Dow stocks hit highest since 2007

Stocks on Wall Street rallied, propelling the Dow Jones Industrial Average to its highest point since December 2007.

Investors were encouraged by a report that showed US manufacturing expanded more than expected in April.

The Dow rose as much as 125 points and at the close (8am NZ time) was up 65.69 points, or 0.5%, to 13,279.32..

The S&P 500 was up 0.6% to 1405.82, with energy leading a rise in all of its 10 industry sectors.

The Nasdaq Composite edged up 0.1% to 3050.44.

UK stocks as well-received earnings from Lloyds Banking Group boosted bank shares.

The FTSE 100 climbed 1.3% to 5812.32, while most European markets were closed for the May Day public holiday.

The Stoxx Europe 600 index rose 0.4% to 258.37, its fifth gain in the past six trading days.

Asian stock markets ended mixed, with renewed strength in the Japanese yen and some disappointing earnings reports hurting Tokyo shares.

Sydney jumped after a bigger-than-expected interest rate cut from the Reserve Bank of Australia . It cut the key cash rate by 0.5 percentage points to 3.75%, surprising markets that had priced in a quarter-point cut to interest rates.

Japan's Nikkei Stock Average closed 1.8% lower at 9350.95, andAustralia's S&P/ASX 200 index rose 0.8% to 4429.50.

Markets were closed in China, Malaysia, the Philippines, Korea, Taiwan and Thailand.

In commodities, crude-oil futures rose 1.2% to $US106.16 a barrel, while gold futures ticked down 0.1% to $US1661.70 an ounce.

In currency trading, the US dollar rose against the euro and the yen.


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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7195 0.0004 0.06%
AUD 0.9371 -0.0006 -0.06%
EUR 0.6804 -0.0009 -0.13%
GBP 0.5790 -0.0009 -0.16%
HKD 5.5839 0.0030 0.05%
JPY 80.6160 -0.0210 -0.03%

Commods

Commodity Price Change Time
Gold Index 1258.3 7.630 2017-02-24T00:
Oil Brent 56.3 -0.650 2017-02-24T00:
Oil Nymex 54.0 -0.500 2017-02-24T00:
Silver Index 18.3 0.220 2017-02-24T00:

Indices

Symbol Open High Last %
NZX 50 7065.6 7091.2 7058.6 0.29%
NASDAQ 5802.3 5845.3 5835.5 0.17%
DAX 11858.1 11860.8 11804.0 0.12%
DJI 20751.9 20821.8 20810.3 0.05%
FTSE 7243.7 7285.2 7243.7 0.36%
HKSE 23941.8 24067.7 23965.7 -0.17%
NI225 19130.5 19179.0 19283.5 -0.91%
ASX 5739.0 5743.5 5739.0 -0.26%