Stock Prices in the U.S. Are Rising - 2003-02-11

Early this morning, just before the U.S. Treasury Secretary's explanation about the economy in Congress, stock prices in the U.S. began to rise. The Dow Jones Industrial Average increased by thirty-eight points, reaching 7958 points, while the broader market index, the S&P-500, rose by five points, equivalent to one percent, reaching 841 points. The Nasdaq Composite index increased by nine points or one percent, reaching 1305 points. In London, the Financial Times stock index rose by sixty-two points or two percent, reaching 3641 points, while in France, the CAC-40 index increased by fifty-two points or two percent, reaching 2820 points. In Frankfurt, Germany, the DAX index rose by fifty points or two percent, reaching 2636 points. The Nikkei average in Tokyo was closed due to a public holiday. In Hong Kong, the Hang Seng index fell by thirty-seven points by the end of the day, reaching 9195. The price of gold in New York decreased by 60 cents, reaching 363 dollars and sixty cents. The value of the dollar against other major currencies was higher in some cases and lower in others.