A burst of buying swept across the US stock market today, giving the Dow Jones industrials their second straight triple-digit gain for the first time in nearly three months.
After a session spent vacillating between modest gains and losses, the market began to climb sharply higher in the last hour of trading, causing the Dow to finish more than 180 points up.
Analysts attributed the late-day surge to big institutional investors placing bets on stocks, which triggered a wave of buying.
Better-than-expected earnings and expectations of another interest rate cut by the Federal Reserve, which meets next week, also contributed to the gains.
The Dow closed up 182.89, or 2.2 per cent, at 8,456.98, according to preliminary calculations. The Dow climbed 230.46 yesterday. The last time the blue chip index had two straight triple-digit advances was May 13-14.
Meanwhile, the Dow has endured seven triple-digit losing streaks in that time.
The broader market also posted gains. The Nasdaq composite index rose 21.46, or 1.7 per cent, to 1,281.01, after advancing 53.54 yesterday. The Standard & Poor's 500 index advanced 17.24, or 2 per cent, to 876.81, following yesterday's gain of 24.97.
A burst of buying swept across the US stock market today, giving the Dow Jones industrials their second straight triple-digit gain for the first time in nearly three months.
After a session spent vacillating between modest gains and losses, the market began to climb sharply higher in the last hour of trading, causing the Dow to finish more than 180 points up.
Analysts attributed the late-day surge to big institutional investors placing bets on stocks, which triggered a wave of buying.
Better-than-expected earnings and expectations of another interest rate cut by the Federal Reserve, which meets next week, also contributed to the gains.
The Dow closed up 182.89, or 2.2 per cent, at 8,456.98, according to preliminary calculations. The Dow climbed 230.46 yesterday. The last time the blue chip index had two straight triple-digit advances was May 13-14.
Meanwhile, the Dow has endured seven triple-digit losing streaks in that time.
The broader market also posted gains. The Nasdaq composite index rose 21.46, or 1.7 per cent, to 1,281.01, after advancing 53.54 yesterday. The Standard & Poor's 500 index advanced 17.24, or 2 per cent, to 876.81, following yesterday's gain of 24.97.
A burst of buying swept across the US stock market today, giving the Dow Jones industrials their second straight triple-digit gain for the first time in nearly three months.
After a session spent vacillating between modest gains and losses, the market began to climb sharply higher in the last hour of trading, causing the Dow to finish more than 180 points up.
Analysts attributed the late-day surge to big institutional investors placing bets on stocks, which triggered a wave of buying.
Better-than-expected earnings and expectations of another interest rate cut by the Federal Reserve, which meets next week, also contributed to the gains.
The Dow closed up 182.89, or 2.2 per cent, at 8,456.98, according to preliminary calculations. The Dow climbed 230.46 yesterday. The last time the blue chip index had two straight triple-digit advances was May 13-14.
Meanwhile, the Dow has endured seven triple-digit losing streaks in that time.
The broader market also posted gains. The Nasdaq composite index rose 21.46, or 1.7 per cent, to 1,281.01, after advancing 53.54 yesterday. The Standard & Poor's 500 index advanced 17.24, or 2 per cent, to 876.81, following yesterday's gain of 24.97.
A burst of buying swept across the US stock market today, giving the Dow Jones industrials their second straight triple-digit gain for the first time in nearly three months.
After a session spent vacillating between modest gains and losses, the market began to climb sharply higher in the last hour of trading, causing the Dow to finish more than 180 points up.
Analysts attributed the late-day surge to big institutional investors placing bets on stocks, which triggered a wave of buying.
Better-than-expected earnings and expectations of another interest rate cut by the Federal Reserve, which meets next week, also contributed to the gains.
The Dow closed up 182.89, or 2.2 per cent, at 8,456.98, according to preliminary calculations. The Dow climbed 230.46 yesterday. The last time the blue chip index had two straight triple-digit advances was May 13-14.
Meanwhile, the Dow has endured seven triple-digit losing streaks in that time.
The broader market also posted gains. The Nasdaq composite index rose 21.46, or 1.7 per cent, to 1,281.01, after advancing 53.54 yesterday. The Standard & Poor's 500 index advanced 17.24, or 2 per cent, to 876.81, following yesterday's gain of 24.97.
A burst of buying swept across the US stock market today, giving the Dow Jones industrials their second straight triple-digit gain for the first time in nearly three months.
After a session spent vacillating between modest gains and losses, the market began to climb sharply higher in the last hour of trading, causing the Dow to finish more than 180 points up.
Analysts attributed the late-day surge to big institutional investors placing bets on stocks, which triggered a wave of buying.
Better-than-expected earnings and expectations of another interest rate cut by the Federal Reserve, which meets next week, also contributed to the gains.
The Dow closed up 182.89, or 2.2 per cent, at 8,456.98, according to preliminary calculations. The Dow climbed 230.46 yesterday. The last time the blue chip index had two straight triple-digit advances was May 13-14.
Meanwhile, the Dow has endured seven triple-digit losing streaks in that time.
The broader market also posted gains. The Nasdaq composite index rose 21.46, or 1.7 per cent, to 1,281.01, after advancing 53.54 yesterday. The Standard & Poor's 500 index advanced 17.24, or 2 per cent, to 876.81, following yesterday's gain of 24.97.
AFP