Central banks pledge aids US
US stocks jumped yesterday following the news major central banks are preparing coordinated action if the results of Greek elections this weekend lead to turmoil in financial markets.
Energy was the top-gaining S&P sector, rising 1.7 per cent, helped by a two per cent rise in US crude oil prices. Chevron was a top boost to the Dow, up 1.8 per cent to $101.92.
Some of the initial pop in prices faded into the close, however, with Wall Street still seen subject to sharp swings.
The Dow hit an intraday high up 1.6 per cent but closed up 1.2 per cent to 12,651.76.
The Standard & Poor’s 500 Index rose 1.08 per cent, to 1,329.10. The Nasdaq Composite Index added 0.63 per cent, to 2,836.33.