U.S. stocks open higher on European optimism; Dow up 0.64%
Published Dec 16, 2011 10:01AM ET
Investing.com - U.S. shares traded higher out of the gate Friday on euro zone crisis optimism, neutral domestic inflation data and stronger than expected economic numbers.
At the open of U.S. trade, the Dow Jones Industrial Average gained 0.64%, the S&P 500 moved higher by 0.32% and the Nasdaq Composite index climbed 0.92%.
Lead euro zone finance minister, Jean-Claude Juncker advised that the region should meet an informal December 19th deadline for funding a debt crisis fighting package, lifting optimism for a solution.
A U.S. inflation gauge of consumer prices signaled that inflation remains in check with an unchanged reading adding fuel to the bullish trading start.
The rally started yesterday on positive reports in both the employment and manufacturing arenas attracted buyers.
Financial shares rallied in the early goings with Citibank up 1.06% and Bank of America trading higher by 0.76%
RSC Holdings and ISTA Pharmaceuticals both soared over 52% leading U.S. shares higher on take over agreements.
On a bearish note, SINA corporation was down by 9.62% on new Chinese microblogging rules.
Across the Atlantic, European stock markets were mixed with the EURO STOXX 50 lower by 0.54%, France's CAC 40 dropping 0.57%, while Germany's DAX 30 was off by 0.06%. Meanwhile, in the U.K. the FTSE 100 advanced 0.18%.
Today is quadruple witching in the U.S., referring to the expiration of a variety of options. This has been known to increase stock market volatility.
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