Stock Prices have increased in the United States and Europe, following the release of additional good news for the US economy.

The Dow Jones Industrial Average reached its peak level within a couple of years during the trading session, however closed lower than its highs, with an increase of 93.24 points or 0.81% up to 11,670.75.

Bank of America was at the top of the index, making a profit of 6.37%.

The S&P 500 index completed at 14.23 points more at 1,271.87, while the NASDAQ completed at 38.65 points higher at 2,691.52.

Investors dealt in risky shares, ditched safe but less yielding US Treasury bonds, following further proof that the US economy turned a corner in the last quarter ended December.

According to a report from the Institute for Supply Management, the production department developed in December at its swiftest pace in seven months.

According to separate figures, the expenditures on construction rose for the third month respectively in November.

Meanwhile on the Chicago Board of Trade, US wheat futures jumped to a fresh 28-month peak, partly due to expectations that the Queensland floods are going to disrupt grain shipments for several weeks.