Markets gain in spite of GDP

NEW YORK, Oct. 30 (UPI) -- U.S. markets posted gains Thursday in spite of the gross domestic product indicating the U.S. economy shrank in the third quarter.

The GDP fell 0.3 percent July through September, the government said. U.S. jobless claims, however, were unchanged in the week.

In Russia, the RTS gained 17.81 percent, while the MICEX stock exchange gained 19.46 percent with surges in state-run banks VTB and Sberbank. Energy giant Gazprom also surged, up 23.08 percent, Novosti reported.

By close Thursday, the Dow Jones industrial average gained 189.73 points, or 2.11 percent, to 9,180.69. The Standard & Poor's 500 rose 24.00 or 2.58 percent to 954.09. The Nasdaq composite index gained 41.31 or 2.49 percent to 1,698.52. On the New York Stock Exchange, 2,510 stocks advanced and 574 declined on a volume of 8.32 billion shares traded.

The benchmark 10-year U.S. Treasury bond fell 24/32 to yield 3.953 percent.

The dollar gained Thursday. The euro fell to $1.2924, compared to $1.2941. Against the Japanese yen, the dollar rose to 98.55 yen, up from 97.18 yen.

In Tokyo, the Nikkei average gained 817.86 points to 9,029.76, up 9.96 percent.

In London, the FTSE 100 index gained 49.11 points to 4,291.65, up 1.16 percent.