22 Aug 2013
Wall Street closes with gains after Nasdaq 'issue'
FXstreet.com (San Francisco) - The US stocks market traded higher in an atypical session where the Nasdaq Composite was halted by 3 hours on technical problems. Investors' confidence was fueled by good manufacturing PMIs figures around the world.
Nasdaq cited problems “disseminating” price quotes, including major companies like Apple, Microsoft and Intel. Trouble appeared to first surface at 11:45AM. Eastern time, when Nasdaq said it was experiencing “momentary interruptions” in distributing quote prices. At 12:14PM., an alert went out to halt trading for “Tape C” securities, which are effectively all of its stocks.
Overall, market sentiment improved as China manufacturing PMI returned to the expansionary territory. The German index also rose above expectations and the index in the US remained in the growth field. Data pointed to global growth. After the Nasdaq 'issue', market jumped as shorts ran to cover positions.
The Dow Jones advanced 66.12 points or 0.44% to 14,963.67. The S&P 500 added 14.16 pts or 0.86% to 1,656.96. And the Nasdaq Composite rose 38.92 pts or 1.08% to 3,638.71.
Nasdaq cited problems “disseminating” price quotes, including major companies like Apple, Microsoft and Intel. Trouble appeared to first surface at 11:45AM. Eastern time, when Nasdaq said it was experiencing “momentary interruptions” in distributing quote prices. At 12:14PM., an alert went out to halt trading for “Tape C” securities, which are effectively all of its stocks.
Overall, market sentiment improved as China manufacturing PMI returned to the expansionary territory. The German index also rose above expectations and the index in the US remained in the growth field. Data pointed to global growth. After the Nasdaq 'issue', market jumped as shorts ran to cover positions.
The Dow Jones advanced 66.12 points or 0.44% to 14,963.67. The S&P 500 added 14.16 pts or 0.86% to 1,656.96. And the Nasdaq Composite rose 38.92 pts or 1.08% to 3,638.71.