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World markets were boosted by the news that US bank JP Morgan Chase reported a better-than-expected profit in the July-to-September quarter.
The Dow closed up 144.8 at 10,015.86, its highest since October 2008.
But correspondents say the Dow is still far off its all time highs and the US economy has a long way to go before there is real recovery.
Earlier, European markets had also closed higher, with banking stocks leading the way up.
Originally posted by D.E.M.
Well, whether you believe the markets are inflating artificially and we are in for a fall, or believe this is the first sign of recovery, you can't argue with the numbers.