NEW YORK (voa) – U.S. stocks surged Wednesday amid optimism over corporate profits as technology giant Cisco Systems reported stronger than expected profits.
The Dow Jones Industrial average gained 305 points or more than three percent to close at 10,142. The broad market indicator, the S&P 500, closed up 39 points (almost four percent) at 1,089. The technology-heavy Nasdaq Composite Index closed 122 points higher or nearly eight percent at 1,696.
It was the biggest rally for U.S. stocks in about eight months.
Earlier, in London, the Financial Times Index ended the day up 89 points (nearly two percent) at 5,209, while in Paris the CAC 40 Index was up 108 points (2.5 percent) at 4,404. The Dax Index in Frankfurt gained 157 points (or more than three percent) to close at 5,029.
The price of gold closed in New York at $308.20 an ounce – down $3.40.
The dollar was mixed against other major currencies.
European Stocks Higher
European share prices are higher in midday trading. In London, the Financial Times Index is up 53 points (more than 1 percent) at 5,173, while in Paris the CAC 40 Index is up 70 points (1.6 percent) at 4,367. The Dax-Index in Frankfurt is 73 points (1.5 percent) higher at 4,945.
In New York, the S&P-futures contract is up more than 15 points, indicating a sharply higher open for U.S. stocks, which posted mixed results Tuesday.
Earlier in Tokyo, the Nikkei Index rose 204 points (nearly 2 percent) to close at 11,521, but in Hong Kong the Hang Seng Index fell 28 points to end the day at 11,768.
The price of gold in London is $310.90 an ounce – down $1.10.
The dollar is higher against the other major currencies.
