US stocks gain

Wall Street stocks have posted solid gains following reports of a new Chinese stimulus plan as investors awaited Wednesday's US Federal Reserve monetary policy announcement. At the closing bell, the Dow Jones Industrial Average jumped 101.02 points (0.59 per cent) to 17,132.16. The broad-based SP 500 gained 14.89 (0.75 per cent) to 1,999.02, while the tech-rich Nasdaq Composite Index rose 33.86 (0.75 per cent) to 4,067.27. Analysts attributed the rally to reports that the People's Bank of China is providing $US81.4 billion ($A88.1 billion) in liquidity to China's five largest banks. 'There's a report that the Chinese central bank is boosting its stimulus program,' said Jack Ablin, chief investment officer at BMO Private Bank. 'That, combined with a perception that the Fed may not be in a hurry to raise interest rates', moved markets, he said, according to skynews.com