European Debt Crisis Fears Weakened, Dow Rose 284 Points

On Friday morning, Beijing time, the US exchange rose sharply on Thursday as investors worried about the euro zone debt crisis, and the euro exchange rate rose for the first time in the past 4 trading days.

Chinese authorities said they did not plan to reduce euro zone government bonds, which encouraged investors.

At the closing time (4:00 a.m. Beijing time), the Dow Jones industrial average rose 284.54 points to 10258.99 points, or 2.85%.

In the Dow stocks, Alcoa rose 3.9%, Caterpillar rose 3.2% and Microsoft rose 5.1%.

The Nasdaq composite index rose 81.80 points to 2277.68 points, or 3.73%, and the standard & Poor's 500 index rose 35.11 points to 1103.06 points, or 3.29%.

As investors' appetite for risk increased, the bond market declined sharply, and the 10 - year Treasuries fell by more than a point. The yield also increased from 3.30% to less than 3.10% two days ago.

The over subscription ratio of the 7 year new treasury bonds is 2.9 points, and the proportion of non direct bid buyers is 51%.

China's denial of the reduction of euro zone government bonds is seen as a sign of confidence in Europe. European stock markets have risen for second consecutive trading days. The French CAC index has risen by 6% in the past two trading days, while the 100 index in Ying Guofu's market has risen by more than 5%, while the German DAX index has risen nearly 5%.

The euro has risen by 1.6% against the dollar.

Standard & amp; Poor's 10 largest industry sector rose across the board, each sector rose by more than 1%.

China's foreign exchange administration announced on its website on Thursday that there was no factual basis for the media reports that China's safe is considering selling some of its eurozone government bonds.

On Wednesday, the US stock market plummeted, rebounded at noon, but plunged sharply at the end. Time and a report by the Financial Times said that the timing of China's consideration of selling eurozone government bonds coincided.

When the Jones industrial stock price index closed down 69.3 points, or 0.7%, closed at 9974.45 points, for the first time since the beginning of February to close at 10000 points below.

The standard & Poor's 500 index and Nasdaq composite index have been slightly lower.

Gary Jenkins, Gary Jenkins, head of fixed income research at Evolution Securities, said: "the response of the market to China's possible sell-off of euro bond information highlights the extent to which current market confidence is fragile and shows the worrying signs that the market is vulnerable to negative news."

Jenkins said, "the reason why the stock market fell sharply yesterday may be the overreaction of the nervous market. Now the market sentiment has come to the point of" selling first and asking why again ", so this situation may be corrected today.

China denied the news of selling Euro bonds. This positive factor not only promoted the rise of US stocks, but also promoted the rebound of the euro exchange rate and the sharp rise of European stock market.

Asian markets were pushed up by the bottom of the market on Thursday.

The US Department of Commerce reported that the growth rate of gross domestic product (GDP) fell to 3% in the first quarter, down from 3.3% of the market average.

The Labor Department announced that in the week ending May 22nd, the number of people claiming unemployment for the first time was 460 thousand, higher than the average 455 thousand expected by economists.

Asda, a subsidiary of Wal-Mart, a retail giant, agreed on Thursday that it will spend $1 billion 100 million to buy the British business of discount retailer Netto.

Netto is a subsidiary of Dansk Supermarked A/S, a Danish chain supermarket group. The latter said Asda will spend 778 million pounds on its 193 stores in the UK through cash and debt obligations.

Crude oil futures prices rose 1.74 yuan, to 73.25 dollars per barrel.

Gold futures changed little.

Check the world stock index's closing list of major global stock markets (Beijing time May 28th 04:10)

Dow Jones 10221.20+2.47%

Nasdaq composite index 2270.31+3.39%

Standard & Poor's 500 index 1099.50+2.95%

FTSE 100 index 5195.17+3.12%

German DAX index 5937.14+3.11%

Russia MICEX index 1305.99+3.23%

France CAC40 index 3525.31+3.42%

Hang Seng 19431.37+1.22%, Hongkong

Nikkei 225 index 9639.72+1.23%

Korea KOSPI index 1607.50+1.60%

S&P Asia 50 index 2747.29+2.43%

Shanghai Composite Index 2655.918+1.15%

Shenzhen 10543.333+1.75%

Shanghai and Shenzhen 3002859.979+1.64%