Stocks Trading Higher at Opening
Traders have shrugged off news that weekly jobless claims jumped more than expected, apparently focusing on another interest rate cut in Europe (albeit smaller than expected) and an easing of mark-to-market accounting rules for toxic mortgage assets in the United States.
The Dow is up 168 points, or 2.1 percent, to 7,928. The S&P is also up: 19 points, or 2.3 percent, to 829. The tech heavy Nasdaq is up 30 points, or 2 percent, to 1,581.
The jumps in U.S. stock prices follows a strong night of trading overnight in Europe and Asia.
-- Michael Rosenwald
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