Banks boost Wall Street after solid earnings
Posted by | Posted in Business News | Posted on 19-10-2009
NEW YORK (Reuters) – Stocks rose on Wednesday, sending the Nasdaq up 1 percent, as signs of strength in corporate profits fueled investors’ appetite for riskier assets.
The Dow Jones industrial average .DJI was up 48.90 points, or 0.49 percent, at 10,090.38. The Standard & Poor’s 500 Index .SPX was up 6.86 points, or 0.63 percent, at 1,097.92. The Nasdaq Composite Index .IXIC was up 20.69 points, or 0.96 percent, at 2,184.16.
Weakness in the U.S. dollar also underpinned the market as shares of multinationals headed higher.
(Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)
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