Monday, October 11, 2010

Wall Street Inches Higher as Stimulus Hopes Grow

NEW YORK: U.S. stocks Edged Higher on Monday, extending last week's Gains as trade was set to remain slow due to a federal holiday and Increasing Expectations for new government stimulus Thurs boost the economy.

Stock markets were open in New York But the federal government offices and somethings Banks are closed Due to Columbus Day.

"This week is going to start on a note Relatively quiet, yet things will soon get busier as the Economic and earnings calendars come into focus Beginning on Tuesday," said Patrick O'Hare of

The blue-chip Dow Jones Industrial Average was up 9.99 points (0.09 Percent) to 11,016.47 points in opening trade, on the ITS Reaching the Highest Level since May 3 on Friday.

The broader S & P 500 index was up 1.15 points (0.07 Percent) at 1,166.01 points, while the tech-rich Nasdaq composite index gained 1.75 points (0.07 Percent) to 2,403.66.

Higher Wall Street closed on Friday, with the Dow Jones index crossing the 11.000-point threshold for the first time since May, Even though the government said the U.S. economy shed more jobs please EE in September.

The lackluster report has boosted Wall Street Expectations for the Federal Reserve Thurs renew cash injections - known as Quantitative easing - in an effort Thurs resuscitate the lagging economy.

The Decision is a new stimulus was likely take place Thurs Following the Fed's next policy-setting meeting in early November, or at the latest in December, Several analysts Estimated.

This week has a heavy calendar Economics, led by the release on Tuesday of the minutes of the September 21 meeting of the central bank's Federal Open Market Committee, Which Could Give Further insight into policymakers' thinking is a New Stimulus Measures.

More data: include the U.S. Trade Deficit is on Thursday and retail sales numbers on Friday as well as a slew of quarterly earnings reports from big corporates Including Intel, Google, JPMorgan Chase and General Electric.


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