U.S. markets post gains Monday

Washington-- U.S. markets posted gains Monday after the Department of Commerce reported that consumer spending rose 0.5 percent in January.

By close, the Dow Jones industrial average added 78.53 points, 0.76 percent, to 10,403.79. The Standard & Poor's 500 added 11.22 points, 1.02 percent, to 1,115.71. The Nasdaq composite index rose 1.58 percent, 35.31, to 2,273.57.

On the New York Stock Exchange, 2,418 stocks advanced and 633 declined on a volume of 4.5 billion shares traded.

The benchmark 10-year Treasury rose 2/32 to yield 3.612 percent.

The euro fell to $1.3557 from Friday's $1.3617. Against the yen, the dollar rose to 89.09 yen from Friday's 88.84 yen.

In Japan, the Nikkei 225 index rose 0.45 percent, 46.03, to 10,172.06.

In Britain, the FTSE 100 index rose 0.96 percent, 51.42, to 5,405.94.

Personal incomes were up 0.1 percent for the month and savings slowed, the Commerce Department said.

The department said spending on private and public construction dropped 0.6 percent in January. The Institute of Supply Management said U.S. manufacturing activity rose in February for the seventh consecutive month.

In Europe, talk of a international help to support Greece's effort to reduce its national dept gave investors more confidence.

Copyright 2010 United Press International

No votes yet