December 9, 2013
Global shares gain on economic business surveys
Global equity markets gained today after business surveys from around the world reflected a global economy in expansion, helping cement expectations the Federal Reserve will trim its bond-buying stimulus program in September.
The Dow Jones industrial average was up 66.19 points, or 0.44 percent, at 14,963.74. The Standard & Poor's 500 Index was up 14.16 points, or 0.86 percent, at 1,656.96. The Nasdaq Composite Index was up 38.92 points, or 1.08 percent, at 3,638.71.
European shares gained in early trade snapping a three session losing streak after manufacturing survey data suggested that growth was taking root in the euro zone.
Business activity across the euro zone picked up more quickly than expected, Markit surveys showed, led higher by growing demand for German exports.
The FTSEurofirst 300 was up 0.9 percent at 1,218.22, set for its biggest gain since the beginning of August.Meanwhile, Japan's Nikkei share average edged down after minutes of the US Federal Reserve's last meeting failed to ease concerns it will begin to trim its stimulus soon, drawing more capital out of emerging countries.
The benchmark Nikkei dropped 0.4 percent to close at 13,365.17 after skidding to 13,238.73 earlier, the lowest level since June 27. The broader Topix shed 0.2 percent to 1,119.56.