Upbeat economic news fuels Wall Street rally

New York, Oct 7 (DPA) Major Wall Street stock indices rose Tuesday following a report of surprisingly strong growth in the US service sector.

The private Institute for Supply Management reported that its index of service industries was showing robust improvements.

The blue-chip Dow Jones Industrial Average gained 193.45 points, or 1.8 percent, to 10,944.72. The broader Standard and Poor’s 500 Index leapt 23.72 points, or 2.09 percent, to 1,160.75. The technology-heavy Nasdaq Composite Index soared 55.31 points, or 2.36 percent, to 2,399.83.

The US currency dropped to 72.26 euro cents from 73.05 euro cents Monday. The dollar edged slipped against the Japanese currency to 83.22 yen from 83.43 yen.

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