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U.S. stocks shake off Nasdaq shutdown

AFP-JIJI

U.S. stocks managed solid gains Thursday despite a three-hour shutdown of the Nasdaq market that disrupted trade on other exchanges as well.

Nasdaq blamed technical problems in its computers for the shutdown, which came after midday and lasted until trade resumed at around 3:25 p.m., giving investors 35 minutes to clear their books.

The Nasdaq shutdown was disruptive, but the market eventually allowed traders to cancel orders, and key stocks and options contracts could be traded on other boards.

But it struck a blow to a market that is still getting over last year’s bungled Facebook IPO and, more recently, the lost of the Oracle share listing to the New York Stock Exchange.

Yahoo shares jumped 3.1 percent on an industry report that its website traffic surpassed that of rival Google in July.

The Dow Jones industrial average closed up 66.19 points, or 0.44 percent, at 14,963.74. The broad-based S&P 500 added 14.16, or 0.86 percent, at 1,656.96. The Nasdaq Composite jumped 38.92, or 1.08 percent, to 3,631.78.