Spain announced it would immediately cut the salaries of civil servants as part of efforts to tightening budgets. The move was announced a few days after the European Union announced a bailout package of up to U.S. $ 1 trillion to the handling of the crisis.
"Security has to reconcile investors for some time," said Chad Morganlander, portfolio manager of Stifell, Nicolaus & Co., as quoted from Reuters on Thursday (13/05/2010).
In trading Wednesday (12/05/2010), the Dow Jones closed up 148.65 points higher (1.38%) to the level of 10896.91. Index Standard & Poor's 500 climbed 15.88 points (1.37%) to the level of 1,717,67 and the Nasdaq climbed 49.71 points (2.09%) to a level of 2425.02.
Technology stocks recorded the biggest reinforcement. IBM shares rose 4.6% was recorded after the release of its earnings projections will be increased two-fold by 2015. Intel shares also rose to 3.6% after earlier announcing the same thing.
Baidu Inc. shares jumped by 9.6% following a plan of China's Internet search sites to do a stock split 10:1.
Shares of Freeport-McMoRan Gold Inc. Copperd and jumped to 3.9%, after gold prices surged to its highest point at U.S. $ 1249.20 per ounce.
Investors also responded to the U.S. trade balance. U.S. trade deficit was recorded higher in March, higher than the record in December 2008. However, exports showed the highest jump since 2008.
"Increased exports are a sign of trade have improved.'s Trade deficit probably widened during March, but this is a positive report for the U.S. and global growth outlook," said Nigel Gault, analyst at IHS Global Insight is quoted from the AFP.
But running pretty thin trading, with transactions in the New York Stock Exchange to reach 9.3 billion, below the average last year reached 9.65 billion.
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