U.S. stocks rise on rate-cut expectations
Published: Dec. 10, 2007 at 5:58 PM
NEW YORK, Dec. 10 (UPI) -- U.S. stock indexes rose Monday on expectations the U.S. Federal Reserve will cut interest rates.
The Dow Jones industrial average rose 101.45 points or 0.74 percent to close at 13,727.03. The broader Standard & Poor's 500 Index added 11.30 points or 0.75 percent at 1,515.96.
On the New York Stock Exchange, 2,026 stocks advanced and 1.141 declined on volume of more than 2.9 billion shares traded.
The technology-heavy Nasdaq Composite Index advanced 12.79 points or 0.47 percent at 2,718.95.
Swiss bank UBS AG said it got an $11.6 billion foreign capital injection after announcing a further $10 billion in write-downs on subprime holdings.
Separately, Canada's TSX Group said it would buy rival Montreal Exchange for $1.3 billion in a deal that combines the Toronto Stock Exchange's equities operations with the Montreal Exchange's derivatives expertise.
In London, the FTSE 100 stock index ended the day up 10.50 points, or 0.16 percent, at 6,565.40.
Japan's Nikkei 225 stock index finished down 31.98 points, or 0.2 percent, at 15,924.39.
The benchmark 10-year U.S. Treasury note lost 11/32, yielding 4.15 percent, while the 30-year bond was down 26/32, yielding 4.62 percent.
The U.S. dollar traded at 111.71 yen, unchanged from late Friday's New York trading. The euro rose to $1.4705 from $1.4655.
The Dow Jones industrial average rose 101.45 points or 0.74 percent to close at 13,727.03. The broader Standard & Poor's 500 Index added 11.30 points or 0.75 percent at 1,515.96.
On the New York Stock Exchange, 2,026 stocks advanced and 1.141 declined on volume of more than 2.9 billion shares traded.
The technology-heavy Nasdaq Composite Index advanced 12.79 points or 0.47 percent at 2,718.95.
Swiss bank UBS AG said it got an $11.6 billion foreign capital injection after announcing a further $10 billion in write-downs on subprime holdings.
Separately, Canada's TSX Group said it would buy rival Montreal Exchange for $1.3 billion in a deal that combines the Toronto Stock Exchange's equities operations with the Montreal Exchange's derivatives expertise.
In London, the FTSE 100 stock index ended the day up 10.50 points, or 0.16 percent, at 6,565.40.
Japan's Nikkei 225 stock index finished down 31.98 points, or 0.2 percent, at 15,924.39.
The benchmark 10-year U.S. Treasury note lost 11/32, yielding 4.15 percent, while the 30-year bond was down 26/32, yielding 4.62 percent.
The U.S. dollar traded at 111.71 yen, unchanged from late Friday's New York trading. The euro rose to $1.4705 from $1.4655.
© 2007 United Press International. All Rights Reserved.
This material may not be reproduced, redistributed, or manipulated in any form.
This material may not be reproduced, redistributed, or manipulated in any form.
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