News : Business : Stocks rally in light trade; oil rises

Stocks rally in light trade; oil rises

Friday, 23-Nov-2007 02:45PM EDT
Story from United Press International. Copyright 2007 by United Press International (via ClariNet)

NEW YORK, Nov. 23 (UPI) -- U.S. stock indexes rallied Friday on a day of bargain-hunting by investors, while consumers did likewise on the opening day of the holiday shopping season.

Each of the three major indexes added more than 1 percent. The Dow Jones industrials added 181.84 points, or 1.42 percent, to close at 12,980.88. The Nasdaq composite was up 34.45, or 1.34 percent, at 2,596.60. The S&P 500 was up 23.93, or 1.69 percent, at 1,440.70.

The volume on the New York Stock Exchange Friday was 670 million shares traded, with 2,638 stocks advancing and 546 declining.

Crude oil futures for January delivery climbed 67 cents to reach $97.96 a barrel on the New York Mercantile Exchange.

The dollar was mixed. The euro fell to $1.4834 from $1.4845 late Thursday. The dollar fell to 108.15 yen from 108.46 yen.

The yield on the 10-year Treasury bond note was at 4.01 percent.

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