U.S. stocks closed sharply higher on Thursday due to a decrease in concerns about the problems of sovereign debt in the eurozone.The euro rebounded strongly during the session, after falling to their lowest in nearly four years against the dollar, after China denied that it is considering to amend their positions in euro-zone debt, which helped ease the nervousness of investors and encourage higher-risk assets.
To this was added the news that the government of Spain approved a decree law that includes measures to cut spending further EUR15.000 million this year and next.The Standard & Poor's 500 climbed 35 points, 3.3%, to 1103, above the level of 1090, which would suggest that the bull run on Thursday is a sustained movement.All sectors of the S & P 500 rose, led by financial and energy, the latter in turn was powered by a 4.3% rise in oil prices to close at U.S. $ 74.55 a barrel.
The Dow Jones Industrial Average gained 285 points, or 2.9%, to 10 259, which allowed him to easily recapture the 10,000 level on Wednesday after closing below that for the first time since early February. Of the 30 Dow components, only Johnson & Johnson and those who buy citigroup stock finished in negative territory.Thursday was the penultimate trading day of the month because the markets will be closed on Monday for the U.S. celebration of the holiday for Memorial Day.
"Much of the intensity of negotiations ends meet has been moved in recent times the penultimate day of the month," the strategist said Bill King, M. Ramsey King Securities in Burr Ridge, Illinois. "The institutions appreciate a little less the negotiations on the final day. This time, it must consider the fact that people probably will try to complete their tasks and leave early on Friday."
ADS BP rose 7.1%. The Coast Guard Admiral Thad Allen of the United States said Thursday that BP's efforts to stop the oil leak on your well in the Gulf of Mexico so far have "stabilized wellhead well and stopped the output oil and gas.
However, the Admiral and a BP executive warned in separate statements that the operation "Top Kill" to seal the well and stop the flow of oil polluting the coast of Louisiana, has not been completed. This is big news for citi group stock.
The action of Intel rose 5.1% and 4% for Microsoft, which eliminated some of the casualties of Thursday, when Microsoft's market capitalization is below that of Apple. Microsoft CEO Steve Ballmer said he was more focused on launching new products and improving profitability than worry about whether the market capitalization is less than that of Apple.