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US Stocks Hypes Up due to Afternoon Boost

Written on March 24, 2011 by Japhet Writ

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U.S. stocks finished higher Wednesday. Thanks to a late-day advance, as investors shrugged off jitters about turmoil in the Middle East and Japan's nuclear issues.

With investors shrugging off jitters about the Middle East turmoil and nuclear issues in Japan, the US stocks finished higher last Wednesday due to a late-afternoon boost. Dow Jones closed 67 points higher, while S&P and Nasdaq gained 4 and 14 points respectively. On other hand, the Bank of America is the worst performer on the blue-chip index. According to them, they need to revise their dividend plan after the Fed rejected their initial proposal.

Traders spent most of Wednesday – and the sessions before that – on the sidelines, as global concerns linger. But with lack of any significant developments, they tip-toe their way back into the market later in the afternoon. According to KDV Wealth Management Vice President, Paul Radeke:

“We’ve been watching for more news out of Japan and the Middle East, but there’s not much new information, so that’s improving some confidence. There’s a lot of pent-up demand, and a lack of further bad news will lift the market.”

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