Wall Street rises on hope for central bank moves

By Rodrigo Campos, June 19 2012

Traders work at their desks in front of the Dax board at the Frankfurt stock exchange June 18, 2012. REUTERS-Remote-Fabrizio Bensch

(Reuters) – Stocks rallied on Tuesday on hopes that the Federal Reserve’s policy meeting will agree on extending stimulus measures as the economy struggles to recover.

A sharp decline in German business sentiment, alongside stubbornly high Spanish bond yields, raised expectations for market-friendly stimulus from European policymakers as well.

Growth-related stocks led the rally, with the S&P materials sector up 1.7 percent and the financial sector up 1.5 percent. U.S. Steel Corp jumped 5.4 percent to $19.41 and Bank of America added 4.8 percent to $8.13.

View more

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s