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Markets

Banks power US stocks higher ahead of holiday

NEW YORK : US stocks closed higher Friday helped by strong gains in the banking and finance shares on the last day of N
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By Abdul Ahad
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dow-jonesNEW YORK: US stocks closed higher Friday helped by strong gains in the banking and finance shares on the last day of New York trade before the long Memorial Day holiday weekend.

The Dow Jones Industrial Average was up 38.97 points (0.31 percent) at 12,441.73 in closing trade.

The broader S&P 500 added 5.42 (0.41 percent) to 1,331.11, while the tech-heavy Nasdaq Composite gained 13.94 points (0.50 percent) at 2,796.86.

The Dow was powered by a 2.3 percent surge in Bank of America shares and a 2.0 percent jump by Johnson & Johnson.

 

Copyright AFP (Agence France-Presse), 2011

 

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