On Wednesday, US stocks advanced in a lighter volume. The Nasdaq and Dow climbed 2.1% and 1.4% respectively and both regained their 50-day moving average. The S&P 500 advanced 1.4%, but few points away from its 50-day moving average.
Investors encouraged by good news about improving US economy and Spain's Austerity plan to contain debt problems. Under this austerity measures to meet deficit targets by European Union, Spain's Prime Minister Jose Luis Rodriguez Zapatero is committed to cut civil service pay this year, freeze the pay next year and cut 13,000 public sector jobs.
The Dow closed at 10,896, up 148 points, 1.4%, with a lower volume.
The S&P 500 closed at 1171, up 15 points, 1.4% with a lesser volume. Retailers were day's biggest gainers.
The Nasdaq closed at 2425, up 49 points, 2.1%, volume was lighter. The large cap techs like Cisco, Intel, Microsoft and Baidu advanced, giving a boost to Nasdaq. Later in the evening CISCO delivered quarterly results, meeting analyst's expectations. However, it fell in the after-hour trading.
Gold was at $1238 an ounce, -6 points or -0.47%
Crude oil was at $75.33 per barrel, -0.35 points or -0.46%
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