Monday, January 3, 2011
Wall Street climbs in first session of 2011
US stocks opened higher as returning investors bet a 2010 rally would continue in the new year and Chinese factory inflation data tempered concerns over increased monetary tightening.
The Dow Jones industrial average gained 93.24 points, or 0.81 percent, to 11,670.75. The Standard & Poor's 500 Index rose 14.23 points, or 1.13 percent, to 1,271.87. The Nasdaq Composite Index climbed 38.65 points, or 1.46 percent, to 2,691.52.
European shares started the first trading session of the year on a strong footing after gaining more than 7 percent in 2010 as money managers got fresh allocations, with Porsche leading auto shares higher.The STOXX Europe 600 Automobile and Parts index surged 2.8 percent, while the FTSEurofirst 300 index of top European shares rose 0.95 percent to 1,132.30 points at 0846 GMT. Volumes were expected to be thin during the session as Britain's FTSE 100 was closed for a holiday.
Japan's Nikkei did not operate due to it being a national holiday.
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