28 March 2001, 12:18  US STOCKS HIGHER ON CONFIDENCE SURPRISE

Stocks soared on the confidence release and players spoke of asset allocation out of Treasuries into stocks. S&P 500 futures traders confirmed that a U.S. investment house was a large seller of bonds and 10Y futures to buy S&Ps. Bill rates were up as much as 15 basis points. The Dow industrials eventually closed up 260.01 points at 9,947.54 and the Nasdaq gained 2.8%, 53.77 points to end at 1,972.26. The S&P 500 was up 2.56% at the close.

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