Dhaka, Bangladesh (BBN)- US stocks climbed over the week pushing toward the highest level in a year with an advance fueled by a rise in industrial production and spike in commodity prices.
The Dow Jones Industrial Average added 245 points throughout this week to 9,791.71, led mostly by automotive and technology companies. The NASDAQ Composite also rose 72.76 points to 2,133.15, touching a one-year high on expectations of economic recovery.
Asian stock markets climbed to new highs for the year after strong US industrial production data boosted confidence in economic recovery. After a mid-week decline, Japan’s Nikkei 225 stock average was at 10,443.80 as the Central Bank kept interest rates at 0.1 percent as a stimulus to economic recovery.
Canadian stocks rose as Canadian factory sales increased the most in 11 years to CAD 41.7 billion (USD 38.7 billion). The Standard & Poor’s/TSX Composite Index rose to 11,555.60, outgaining the S&P 500 this year 29 percent to 18 percent.
The DSE General Index gained 116 points over the week to close at 3,058.80 before the Eid-ul-Fitr holidays.
BBN/SS/SI/AD-18September09-5:21 pm (BST)