Stocks rise in early trading on Wall Street
NEW YORK -- Stocks advanced in early trading Tuesday on Wall Street, with major indexes gaining more than half a percentage point.
The Dow Jones industrial average was up 72 points, or 0.6%, to 13,192 shortly after the opening bell.
The Standard & Poor’s 500 index gained 8 points, or 0.5%, to 1,402. The Nasdaq was up 22 points, or 0.8%, to 3,013.
The Dow has advanced each day since Thursday of last week, ahead of a better-than-expected employment report that showed American employers added 163,000 jobs in July.
Investors have been anticipating further monetary stimulus by the Federal Reserve.
In a potential sign of growing support for further action by the Fed, Eric Rosengren, president of the Federal Reserve Bank of Boston, told the Wall Street Journal the that Fed should ramp up efforts to boost the economy. He told the paper he sees signs of softness.
“That calls for a more substantive action than we’ve taken to date,” the Journal quoted Rosengren saying. “We need a pro-growth monetary policy.”
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