The Dow Jones broke through the 12,000 level for the first time since June 2008 on Wednesday, following calls for a cut in corporate taxes and a unanimous vote by policymakers to maintain a $600bn bond-buying plan.
In a volatile session, the index came close to 12,020 before eventually closing just eight points higher at 11,985. Elsewhere, the S&P 500 closed at a 29-month high, led by gains in technology and commodity stocks. Shares rose after US President Barack Obama called for a cut in the corporate tax rate, as well as on a higher-than-expected reading on home sales. Additionally, US Federal Reserve policymakers voted unanimously to a $600bn bond-buying plan to fuel economic recovery. The FTSE opened marginally lower on Thursday following a strong Wednesday session. London's leadi...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes