Retailers, banks pull Wall Street higher

Business Materials 8 February 2008 04:13 (UTC +04:00)

( dpa ) - Major US stock indices rose Thursday amid expectations for future earnings in retailing and banking.

"The mood of the market is changing," Rick Campagna, a money manager at Provident Investment Counsel, told the Bloomberg financial news agency. "It's starting to say, 'Let's look through this slowdown and see what's going to lead us up.'"

The blue-chip Dow Jones Industrial Average was up 46.9 points, or 0.38 per cent, to 12,247. The benchmark Standard & Poor's 500 Index gained 10.46 points, or 0.79 per cent, to 1,336.91. The technology- heavy Nasdaq Composite Index added 14.28 points, or 0.63 per cent, to 2,293.03.

The US currency jumped against the euro in New York to 68.994 euro cents from 68.34 euro cents on Wednesday. The dollar rallied against the Japanese currency, closing at 107.33 yen from 106.62 yen on Wednesday.

Gold rose 5 dollars to 910 dollars per fine ounce.