U.S. stocks soared Monday amid optimism that corporate profits will rebound soon.
The Dow Jones Industrial average was up 178 points (1.8 percent) to close back over the 10,000 mark at 10,146 – a seven-week high. The broad market indicator, the Standard & Poor’s 500, climbed 20 points (1.8 percent) to 1,109. The technology-heavy Nasdaq Composite Index was 45 points higher (2.6 percent) to 1,770.
Investors were encouraged over news that General Motors, the world’s largest automaker, has revised profits upward for the first three months of the year. The big technology firm Qualcomm, which licenses patents for mobile phones, also said profits would not disappoint investors.
In London, the Financial Times Index is up 50 points (one percent) at 5,101, while in Paris the CAC 40 Index is up 60 points (1.4 percent) at 4,305. The DAX Index in Frankfurt was 118 points higher (2.5 percent) to 4,864.
New York gold closed at $292.70 an ounce – down 50 cents.
The dollar was mixed against the other major currencies.
