US Stocks rallied Wednesday, with the Dow, Nasdaq and S&P 500 all closing at new fresh 2010 highs, after the U.S. and Japanese central banks chose to keep interest rates low and the Senate passed a key jobs bill.
The Dow Jones industrial average (INDU) added 48 points, or 0.6%, closing at 10,733.67. It was the highest close since 10,831.07 on Oct. 1, 2008.
The Dow has now risen for seven sessions in a row, its longest winning streak since the 8-day period that ended on August 27 of last year.
LONDON - European stock markets closed in positive territory on Wednesday, driven higher by investor satisfaction with a US Federal Reserve decision to maintain super low interest rates for the foreseeable future. In London, the FTSE 100 index added 39.15 points, or 0.43 per cent, to reach 5,644.63 points.
FRANKFURT - The Dax rose 81.23 points, or 1.36 per cent, to 6,024.28 points.
PARIS - The CAC 40 gained 1.03 per cent, or 18.94 points, to reach 3,957.89.
Oil prices climbed sharply on Wednesday after OPEC, the cartel that produces 40 per cent of world crude, held current output quotas unchanged despite a recent runup in prices.
New York's main contract, light sweet crude for April delivery rose $US1.23 to close at $US82.93 a barrel. The Australian market is expected to open higher, on positive leads from overseas securities and commodities trading.
At 0656 AEDT on the Sydney Futures Exchange, the March share price index contract was 18 points higher at 4,872 points.
In economic news on Thursday, the Melbourne Institute releases its Household Saving and Investment Report for the March quarter, and the Australian Chamber of Commerce and Industry and Westpac issue their survey of industrial trends.
GOLD up $1.70 to US$1,124.20 an ounce SILVER up 16.9c to US$ 17.523 an ounce COPPER up 5.3c at US$3.418 a pound
Today's Financial Calendar March 18 2010
Japan BoJ monthly report Japan leading economic index, Jan NZ ANZ consumer confidence, Mar EU eurozone current account, Jan EU eurozone trade balance, Jan US consumer price index, Feb US current account, Q4 US Conference Board leading economic indicators, Feb US Philadelphia Fed activity index, Mar UK public finances, Feb (BKW) - Interim results (CGF) - Ex-Div. 6c (CXP) - Ex-div. 12.5c (ORL) - Ex-Div. 22c (PRV) - Ex-Div. 1.5c (STE) - Ex-Div. 0.13c
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