Wall Street starts 2010 on high note

Last updated 07:16 05/01/2010

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US data revives flagging markets Kiwi down on Greek deal disappointment NZ stocks down, Goodman Fielder plummets Euro falls, shares retreat on Greek fears Stocks swing on euro zone headlines NZ dollar up on strong retail spending Stocks slip with profit taking Markets retreat as Greeks scramble for cash Stocks slip after Mainfreight result Kiwi falls on European downgrades

Stocks rallied during their first trading session of 2010, as investors bet that the economic recovery will be sustained following upbeat data on the manufacturing sector.

Weakness in the US dollar also boosted the market as investors snapped up shares of natural resource companies. Both the S&P 500 and the Dow hit their highest closes in 15 months, while the Nasdaq hit its highest close in 16 months.

Based on the latest available data, the Dow Jones industrial average rose 155.91 points, or 1.50 percent, to close unofficially at 10,583.96. The Standard & Poor's 500 Index shot up 17.88 points, or 1.60 percent, to end unofficially at 1,132.98.

The Nasdaq Composite Index jumped 39.27 points, or 1.73 percent, to close unofficially at 2,308.42.

The benchmark S&P 500 is now up 67.5 percent from the 12-year closing low of early March 2009.

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- Reuters