Markets post solid gains

NEW YORK, Nov. 4 (UPI) -- U.S. markets surged Thursday on encouraging data backed by a U.S. Federal Reserve decision to pump $600 billion into the economy through treasury bonds.

The Fed said Wednesday it would buy $75 billion in long-term bonds per month through June. The decision was made after reports earlier in the week showed gains in U.S. and Chinese manufacturing and in service-oriented U.S. business activity.

Equity markets rose across Asia and Europe Thursday. By close of trading on Wall Street, the Dow Jones industrial average added 219.71 points or 1.96 percent to 11,434.84. The Standard & Poor's 500 index gained 23.10 or 1.93 percent to 1,221.06. The Nasdaq composite index jumped 37.07 or 1.46 percent to 2,577.34.

On the New York Stock Exchange, 2,515 stocks advanced and 492 declined on a volume of 4 billion shares traded.

The benchmark 10-year treasury note rose 25/32 to yield 2.491 percent.

The euro fell to $1.4202 from Wednesday's $1.4207. Against the yen, the dollar rose to 80.73 yen from 80.65 yen.

In Tokyo, the Nikkei 225 index rose 2.17 percent, 198.40, to 9,358.78.

In London, the FTSE 100 index added 1.98 percent, 113.82, to 5,862.79.