Weekend markets: World sharemarket surge into Christmas
Wall Street made its fourth straight gain, pushing the S&P 500 index back into positive territory for 2011.
Stocks on Wall Street headed into Christmas with a fourth straight gain, pushing the Dow Jones Industrial Average to a six-month high.
The blue chip index jumped 124.35 points, or 1.0% to 12,294.00 at the close (10am NZ time).
The S&P 500 index rose 0.90% to 1265.33, moving back into positive territory for the year. The technology-heavy Nasdaq Composite advanced 0.7% to 2618.64.
Investors were encouraged by a break in the latest US Congressional deadlock, after lawmakers in both houses voted to extend a payroll tax cut by two months and agreed to begin negotiations on a yearlong extension.
Investors also welcomed more economic news confirming the belief that the US, recovery is on track.
Leading the gains were consumer discretionary and technology stocks. Bank of America gained 2.4% to lead the Dow components, while Walt Disney gained 2%.
Other markets: Europe, Asia rise
European markets were broadly higher, with the Stoxx Europe 600 up 0.9% to bring its weekly gain to 3.5%.
Asian exchanges also rallied, with China's Shanghai Composite gaining 0.9% to post its first gain in five sessions. Korea's Kospi climbed 1.1%.
In commodities, crude oil futures edged 0.2% higher to just short of $US100 a barrel, settling at $99.68. Gold futures slipped 0.3% to $US1,604.70 an ounce.
The US dollar rose against the euro and lost ground to the yen.
Nevil Gibson
Sat, 24 Dec 2011
Sat, 24 Dec 2011
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Weekend markets: World sharemarket surge into Christmas
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