Strong rally on Wall Street

The Dow has broken above 15,000 and the S&P has advanced for the fifth day in a row, boosted by up-beat economic data out of China.

US share prices have been buoyant today, with an unexpectedly-large rise in Chinese exports helping to swell optimism in the stock market.

There is also a sense of relief that there have been no developments in the Syria situation, although it would be foolhardy to assume Syria will not come back into focus; if military strikes get the go-ahead, there is a good chance that tensions may rattle the markets again at least temporarily.

But the absence of any military actions by the US has left the stock market free to rally, with the Dow gaining 0.77% or 115 points to 15,037 by early afternoon in New York, while the NASDAQ 100 advanced to its highest level since November 2000.

Apple was among the tech companies pushing the NASDAQ higher, rising 1.7% to $506.70 ahead of an event at the company headquarters tomorrow at which the latest iPhone is widely expected to be launched. FBN Securities lifted its price target for Apple from $575 to $600, saying it expects the new iPhone to be available from 20 September.

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