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Wall Street refreshes 2009 highs

Wall Street refreshed 2009 highs on Wednesday as positive economic data suggested a stronger-than-anticipated global recovery.

The Federal Reserve said August industrial production rose 0.8 percent, a second consecutive monthly increase and more than forecast.

The U.S. Labor Department said Wednesday that the Consumer Price Index rose 0.4 percent in August due to higher gas prices, another sign that the weak economy is keeping inflation in check.

Energy and manufacturing companies were among the strongest, benefiting from data indicating improved industrial demand and a falling dollar, which makes American exports more competitive in world markets.

The Dow Jones industrial average was up 108.30 points, or 1.12 percent, at 9,791.71. The Standard & Poor's 500 index was up 16.13points, or 1.53 percent, at 1,068.76. The Nasdaq composite index was up 30.51 points, or 1.45 percent, at 2,133.15.

 

 

 
 
 Source : Xinhua  Editor: Ivy
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