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US market up about 3% on Thursday
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Source: CCTV.com | 04-03-2009 09:51
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Wall Street rallied on Thursday with all major indexes rising around 3 percent.
The boost was fueled by an accounting rule change that could strengthen banks and commitments from world leaders to toughen regulatory oversight of financial institutions.
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| Wall Street rallied on Thursday with all major indexes rising around 3 percent.(CCTV.com) |
Bits of good news about the economy in recent weeks, including better-than expected-numbers on the housing and manufacturing sectors, have given investors more reasons to buy.
Stocks also got a boost on Thursday as the G20 leaders pledged 1.1 trillion U.S. dollars to revive the world economy.
Bob O'brien, Stocks Editor, Barrons.com, said, "There was some concern going into the G20, that especially some of the European nations would hold the line at trying to increase any commitments to stimulus.Apparently President Obama has managed to convince some of those reluctant participants to go along and try and put more money into the effort to try and revive the global economic picture."
Crude oil jumped back above 52 U. S. dollars a barrel on Thursday supported by a strong rally in the stock market and a weakening dollar.
Editor:Zhang Pengfei
