US stocks extended gains today, with both the Dow and briefly S&P 500 rising 1 percent after Federal Reserve Chairman Ben Bernanke gave no indication that the central bank would retreat from its latest round of bond buying.
The Dow Jones industrial average gained 123.18 points, or 0.80 percent, to 15,510.76. The Standard & Poor’s 500 Index rose 14.64 points, or 0.88 percent, to 1,683.80. The Nasdaq Composite Index advanced 22.47 points, or 0.64 percent, to 3,524.59.
European shares fell from multi-year highs today, with luxury goods stocks among the worst performers, as some investors sold in anticipation of a near-term pull-back in the market.
The pan-European FTSEurofirst 300 index, which has hit five-year highs this month, fell 0.6 percent to 1,245.62 points mid-session, while the euro zone’s blue-chip Euro STOXX 50 index declined 0.5 percent to 2,806.90 points.
The Nikkei average climbed 1.6 percent to a fresh 5-1/2-year high on Wednesday, spurred on by the Bank of Japan’s optimism about the economic outlook, while Sony Corp surged on reports it may consider a proposal to spin off its entertainment assets.
The Nikkei added 246.24 points to 15,627.26, the highest closing level since December 2007. It rose as high as 15,706.63 earlier, also the best mark since the same time.
buenosairesherald.com