Sun, 24 Oct 2021

Wall Street shuns sellers, Nasdaq jumps 155 points

Lola Evans
24 Sep 2021, 06:10 GMT+10

NEW YORK, New York - Stocks in the United States rallied on Thursday.

"This is a follow-on rally from a very good Fed meeting," Tim Ghriskey, chief investment strategist at Inverness Counsel in New York was quoted by Reuters as saying on Thursday.

"To me, that showed there were no surprises and things were as expected," he said. "Any Fed rate hike is still quite a ways off and so much can change between now and then."

The Dow Jones industrials did best, rising 506.50 points or 1.48 percent to 34,764.82.

The Standard and Poor's 500 rose 53.34 points or 1.21 percent to 4,448.98.

The Nasdaq Composite climbed 155.40 points or 15,052.24.

The U.S. dollar fell sharply. The euro surged to 1.1744 approaching the New York close Thursday. The Britih pound firmed to 1.3730. The Swiss franc edged up to 0.9241.

The Canadian dollar rose to 1.2650. The Australian dollar cruised up to 0.7303. The New Zealand dollar was sharpl,y higher at 0.7077.

Only the Japanese yen fell, it declined to 110.28.

On overseas equity markets, London's FTSE 100 fell 0.07 percent. The German Dax advanced 0.88 percent. The CAC 40 in Paris rose 0.98 percent.

On Asian markets, the Australian All Ordinaries surged 87.50 points or 1.15 percent to 7,681.30.

In Hong Kong, the Hang Seng rose 289.44 points or 1.19 percent to 24,510.98.

China's Shanghai Composite added 13.73 points or 0.38 percent to 3,642.22.50 points.

The Japanese market was closed for a public holiday.

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