Wall Street shrugs off Paris attacks

Wall Street sign Image copyright AP

(Close): Wall Street ended the day over 1% higher marking its strongest day for three weeks, as markets held firm in the aftermath of the Paris terror attacks.

After dipping initially, the Dow Jones Industrial Average ended the day 232.16 points higher at 17477.40.

The broader S&P 500 rose 30 points to 2,053.19, while the Nasdaq index added 56.73 points to 4,984.62.

Oil stocks helped to support markets after crude prices rose.

Exxon Mobil shares were the top riser, surging 3.6% to $80.90.

"Markets are slowly becoming more and more immune to these types of events.

"Right at the opening there was a bit of a panic trade and then from there more steady hands - more professional, deep-pocketed hands - came in and bought the market," said John Brady, managing director at R.J.O'Brien & Associates.

Shares in Starwood Hotels fell 3.6% to $69.95, despite the hotel group accepting a $12.2bn takeover offer from rival Marriott International. Shares in Marriott rose 1.4%.

As in Europe, shares in the hotel sector, and other companies operating in the travel industry, fell on fears that the Paris attacks will lead to less travel.

Airline shares came under pressure, with Delta Airlines down 2.2%.