December 9, 2013
Global markets: China data spurs stocks; Syria diplomacy pressures debt, oil
US stocks climbed for a sixth straight session as the dollar and global equities rallied on more upbeat economic data from China, while prices of safe-haven debt and oil slipped on the chance of a diplomatic alternative to a potential Western military strike against Syria.
The Dow Jones industrial average .DJI rose 127.94 points or 0.85 percent, to 15,191.06 and the S&P 500 .SPX gained 12.28 points or 0.73 percent, to 1,683.99. The Nasdaq Composite .IXIC added 22.83 points or 0.62 percent, to 3,729.021.
European shares hit fresh session highs while German Bund futures extended losses with traders attributing the move to a report of Syria accepting a Russian proposal on chemical weapons.
The FTSEurofirst was up 1.2 percent at 1,242.78 points just off the session high of 1,243.17.
German Bund futures extended losses to a session-low of 136.82, down 80 ticks on the day.
Meanwhile, Japan's Nikkei average closed at a 5-1/2-week high as companies expected to benefit from the 2020 Summer Olympics kept drawing retail investors, while positive leads from global markets and China data boosted sentiment.
The benchmark Nikkei rose 1.5 percent to 14,423.36, a level not seen since Aug. 2. The broader Topix also advanced 1.5 percent, to 1,190.22, with trading volume at a three-month high of 4.23 billion shares.