Go Finance Reporting - The stock market rose after easing concerns over European debt. Shares of the banking sector and commodity stocks tracked rose most rapidly.
Investors are hoping the funds that go into greater market share with the speculation that economic growth will strengthen. About seven stocks rose for every three that fell on the New York Stock Exchange.
Strengthening the banking sector generally and sustained commodity with rising inflation, including as well as agriculture and energy sectors. Seed company Monsanto Co. managers rose 3.3 percent to USD74, 92 while Exxon Mobil Corp. rose 1.2 percent to USD76, 58.
While the strengthening of bank stocks was led by JPMorgan Chase & Co. rose 2.5 percent to USD44, 71 after management said the bank could increase its dividend after the Federal Reserve gave its approval.
"The Europeans have made the people to be optimistic and make bullish, rising demand in the future indicates a positive path," said chief investment strategist at PNC Wealth Management in Philadelphia, Bill Stone was quoted as saying by Reuters.
Shares of the agricultural sector showed an increase after a U.S. government report says U.S. corn and soybean stocks will be drawn to be surprisingly low levels, lifting the stock prices of food and agriculture.
In late trading Wednesday (13/01/2011), the Dow Jones industrial rose 83.48 points, or 0.72 percent to 11755.36. Standard & Poor's Index rose 11.47 points, or 0.90 percent at 1285.95. While the Nasdaq Composite Index rose 20.50 points, or 0.75 percent, to 2737.33. (GoFinance)
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