Stocks Surge: Dow Again Breaks 10,000
Maura Lockwood, Cabot Headline News
November 06, 2009
Stocks surged on renewed optimism about the economy, sending the Dow Jones Industrial Average over 10,000 with its biggest gain in three months. The Wall Street Journal reported.
The Dow closed up 203.82 points, or 2.1%, the 11th triple-digit move since the beginning of October, compared to just three in September and five in August, according to the Journal. It was also the largest point gain since July 15, and the biggest percentage gain since July 23.
The Nasdaq rose 2.4% and the S&P 500 rose 1.9%, led by consumer discretionary shares, which were up 2.6% after new data from the International Council of Shopping Centers showed U.S. retailers posted sales gains for the second consecutive month in October, according to the Journal.
The tech sector up 2.2%, responding to encouraging comments about technology spending by the CEO of Cisco Systems, the Journal reported.
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