Wall St higher

Business, Normal

The National, Monday 25th March 2013

 NEW YORK: US stocks closed last Friday firmly higher amid hopes that the Cyprus banking crisis will be resolved on weekend.

The Dow Jones Industrial Average finished up 90.54 points (0.63%) at 14,512.03.

The broad-based S&P 500 increased 11.09 (0.72%) to 1,556.89, while the tech-rich Nasdaq Composite Index jumped 22.40 (0.70%) to 3,245.00.

The rebound followed market losses last Thursday due to some weak earnings reports and uncertainty about Cyprus.

“We’re taking back a lot of the losses we’ve seen,” Anthony Conroy, a trader at BNY Convergex Group said. – AFP