Wall Street forges ahead despite uncertainty, Dow Jones gains 193 points

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NEW YORK, New York – U.S. stocks gained ground on Thursday despite continuing challenges across a broad range of fronts.

“There’s just a lot of uncertainty, and I think people aren’t going to really make up their minds for longer than five minutes or five seconds, you know, until there’s a little bit more clarity or light at the end of the tunnel,” Grace Lee, an equity income senior portfolio manager at Boston-based Columbia Threadneedle Investments told Reuters Thursday.

The Dow Jones industrials advanced 193.24 points or 0.61 percent to 31,774.52.

The Nasdaq Composite increased 70.23 points or 0.60 percent to 11,861.13.

The Standard and Poor’s 500 added 26.31 points or 0.66 percent to 4,006.18.

The U.S. dollar was mixed on foreign exchange markets. The Canadian dollar shot higher, last trading at 1.3088 after the Bank of Canada hiked its official interest rate to 3.25%, a 14-year high, a day earlier. The euro firmed to 0.9999 by the New York close Thursday. The Japanese yen fell to 144.00. The Swiss franc firmed a tad to 0.9705.

The Australian and New Zealand dollars were little changed at 0.6749 and 0.6054, respectively.

Shares in the UK fell as the nation went into mourning over the death of Queen Elizabeth II, the country’s longest-serving monarch. The FTSE 100 declined 0.33 percent. In Germany, the Dax eased 0.09 percent. In Paris, France, the CAC 40 lost 0.33 percent.

In Japan, the Nikkei 225 advanced a whopping 634.98 points or 2.31 percent to 28,075.28.

The Australian All Ordinaries garnered 126.00 points or 1.81 percent to advance to 7,085.30.

In New Zealand, the S&P/NZX 50 climbed 129.63 points or 1.12 percent to 11,677.93.

Seoul’s Kospi Composite gained 7.82 points or 0.33 percent to 2,384.28.

In Hong Kong, the Hang Seng tumbled 189.68 points or 1.00 percent to 18,954.62.

China’s Shanghai Composite eased 10.71 points or 0.33 percent to 3,235.59.