9/23, 4:53 PM (Source: TeleTrader)
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US markets extend gains, Dow jumps over 500 points

Major stock markets in the United States extended gains on Thursday despite worse-than-expected data released around the opening bell. The number of initial jobless claims increased by 16,000 last week, while composite PMI for September declined to a 12-month low.

Yesterday, the Federal Reserve announced the decision to maintain its key interest rates ahead of the upcoming tapering of asset purchases that could happen as soon as in November.

The Dow Jones soared by 1.46% or 501 points at 10:48 am ET. The Nasdaq 100 jumped by 1.05% or 159 points, while the S&P 500 rose by 1.27%. The euro gained 0.48% against the dollar to sell for 1.17427 a minute later.

Breaking the News / ND