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Roundup: U.S. stocks post gains amid rising global shares

Xinhua, October 8, 2015 Adjust font size:

U.S. stocks ticked up Wednesday in volatile trading, as global stock markets were boosted by mining and energy shares following a rebound in commodity prices.

The Dow Jones Industrial Average rose 122.10 points, or 0.73 percent, to 16,912.29. The S&P 500 added 15.91 points, or 0.80 percent, to 1,995.83. The Nasdaq Composite Index was up 42.79 points, or 0.90 percent, to 4,791.15.

In Asia, Japanese stocks ended higher Wednesday on the Bank of Japan's decision to maintain its ultra-loose monetary easing policy, with the 225-issue Nikkei Stock Average rising 0.75 percent.

Chinese stock markets will reopen Thursday after the country's seven-day National Day holiday.

European equities also increased broadly Wednesday, with Germany's benchmark DAX index at Frankfurt Stock Exchange up 0.68 percent, as shares in energy companies rallied strongly after some recovery in oil prices.

With no major economic data due out Wednesday, investors keep a close eye on the third-quarter earnings season, which was supposed to be unofficially kicked off as Alcoa reports its quarterly results after Thursday's closing bell.

The third quarter earnings for companies in the S&P 500 are expected to decline around 4 percent from the same quarter 2014, according to Thomson Reuters.

Traders, however, became cautious ahead of the Thursday release of minutes from U.S. Federal Reserve's recent meeting.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, decreased 5.15 percent to end at 18.40 on Wednesday.

In other markets, the U.S. dollar traded mixed against other major currencies as the International Monetary Fund lowered the growth outlook of world economy this year, raising concerns that the Federal Reserve may delay interest-rate hike till next year.

In late New York trading, the euro fell to 1.1252 dollars from 1.1273 dollars in the previous session, while the dollar bought 119.92 Japanese yen, lower than 120.27 yen of the previous session.

Gold futures on the COMEX division of the New York Mercantile Exchange extended gains to its highest settlement since Sept. 24.

The most active gold contract for December delivery closed up 2.30 U.S. dollars, or 0.20 percent, to settle at 1,148.70 dollars per ounce. Endit