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US stocks open higher

Friday, September 30, 2011
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New York: US stocks opened broadly higher Friday amidst positive economic data, Xinhua reported. Investors also embraced news that Germany's lower house had approved a new plan for euro zone debt crisis fund. The Labor Department said Thursday that applications for unemployment benefits fell by 37,000 to a seasonally adjusted 391,000 last week. Meanwhile, the revised US GDP growth in the second quarter was 1.3 percent, beating previous expectations. Investors also focused on Fed Chairman Ben Bernanke's speech Wednesday in which he said the central bank might need to ease monetary policy further if inflation fell broadly. The Dow Jones industrial average gained 190.46 points, or 1.73 percent, to 11,201.36. The Standard & Poor's 500 was up 18.80 points, or 1.63 percent, to 1,169.86. The Nasdaq Composite Index rose 42.31 points, or 1.71 percent, to 2,534.24.
Source: IANS
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