With buyers back in action, US stocks rose to their fresh one-year highs and remained near their high points as optimism grew that an economic recovery, helped by solid third-quarter earnings reports and increased M&A activity, is on cards.
The Dow Jones industrial average rose 96.28 points, or 0.96%, to close at 10,092.19. The broader S&P 500 index jumped 10.23 points, or 0.94%, to 1,097.91 and the tech-heavy Nasdaq climbed 19.52 points, or 0.91%, to 2,176.32, its highest point since September 26, 2008. Market breadth was positive, with advancing shares ahead of decliners by a margin of three-to-one. Only five of the DJIA thirty declined in price.
After the close, iPhone maker Apple Inc. (NASDAQ:AAPL) and Texas Instruments (NYSE:TXN) reported better-than-estimated numbers, fuelling hopes for the technology industry. Last week Google Inc. (NASDAQ:GOOG) and Intel Corp’s (NASDAQ:INTC) numbers had come in above expectations.
Although there were some jitters last
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