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Monday, March 31, 2014

Wall Street ended up driven technology stocks , global stock markets rose driven Fed statement

Wall Street ended up driven technology stocks , global stock markets rose driven Fed statement

Stocks on Wall Street surged on Monday (Tuesday morning GMT ) , stock driven technology sector rebounded after falling last week , aided by the assurance that the Federal Reserve Janet Yellen will continue to support the U.S. economy .

At the close of trading , the Dow Jones Industrial Average rose 134.60 points ( 0.79 percent) to 16457.66 .

The broad-based S & P 500 added 14.72 points ( 0.79 percent ) to finish at 1872.34 . The tech-rich Nasdaq composite index rose 43.24 points ( 1.04 percent) to 4198.99 .

Technology stocks were the main beneficiaries rise , after being under heavy selling pressure last week on fears of new bubbles and fears that Western tensions with Russia could deteriorate over the weekend .

Monday also marked the last trading day of March and the first quarter of this year .

On a quarterly basis , leading stocks the Dow fell 0.7 percent during the last quarter , while the broader S & P 500 and Nasdaq recorded each rose 1.3 percent and 0.5 percent .

While for March , the Dow rose 0.8 percent , the S & P 500 rose 0.7 percent , but the Nasdaq lost 2.5 percent .

U.S. stocks opened higher moves and held up until the end of the session because Yellen 's comments support the market sentiments .

Federal Reserve Chairman Yellen provide market support in his speech , in which he underlined that unemployment is still a major challenge for the economy and the Fed will maintain extraordinary measures until the unemployment rate falls much more .

"The recovery still feels like a recession to many Americans , and also looks like it was in some economic statistics , " he said .

There is still room for the Fed to boost the U.S. economy through a policy of " extraordinary " in the form of bond-buying program and the massive interest rates near zero , Yellen said Monday , referring to the weak labor market .

Bio- tech stocks were big losers during last week turned up or " rebound " , with Gilead Sciences rose 3.4 percent , while rival Biogen Idec added 4.0 percent and 2.3 percent rise Amgen .

Oracle jumped 3.4 percent on reports that it has surpassed Gartner IBM rose 1.1 Percent become the second largest software provider in the world .

The largest software provider , Microsoft , rose 1.7 percent helped by the success of his latest Word applications for Apple devices .

General Motors , the problem continues to rise ahead of a hearing in the U.S. Congress over the withdrawal of the recent cars , lost 0.9 percent .

Tesla , a luxury electric car maker , lost 1.9 percent since announcing improvements to battery fire issues .

Bond prices vary . The yield on 10 - year U.S. government slightly higher at 2.73 percent , up from 2.72 percent on Friday ( 28/3 ) , while the 30 - year flat at 3.57 percent . Prices and bond yields move inversely .

Shares in major world markets rose on Monday , while gold , yen , and other safe assets fell after the chairman of the U.S. central bank ( Federal Reserve ) Janet Yellen reiterated the importance of commitment " extraordinary " to support the U.S. economy .

The euro bounced back against the U.S. dollar even when " estimates softer " inflation will be added to the discussion of whether the European Central Bank ( ECB ) will cut interest rates when it meets later this week .

The S & P 500 posted gains for the 14th month in the past 17 months and the fifth consecutive quarterly rise , as seen quarterly in 2006-2007 and 2003-2004.

Yellen on Monday maintaining strong financial policy - loose ( easy - money ) the Fed in a speech at a conference in Chicago investment community .

" I think the commitment is still needed exceptional and for some time , and I believe that the broad view is shared by our fellow colleagues at the Fed's policy -makers , " said Yellen told Reuters.

Joseph Tanious of JP Morgan Asset Management in New York said that Yellen is done to provide clarity .

When there are no worries of tightening by the Fed , the market could breathe .

At the end of Monday's trading , the Dow rose 134.60 points, or 0.82 percent to 16,457.66 , the S & P 500 rose 14.72 points, or 0.79 percent, to 1.8872,34 , while the Nasdaq closed down 43.24 ( 1.04 % ) higher at 4198.99 .

MSCI's main stock market index rose 0.7 percent , while European blue chip index ( STOXX50E ) daily highs touched in over five years , although the FTSEurofirst 300 index of leading shares closed up less than 0.1 percent .

Tokyo's Nikkei index ( Nikkei 225 ) rose 0.9 percent to touch a three -week highs , supported by comments from Chinese Premier Li Keqiang on Friday that Beijing is ready to support the cooling economy , and said the government has an important policy in placing and pushing through infrastructure investment .

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