News : Business : U.S. stocks rally after worst day of' '08

U.S. stocks rally after worst day of' '08

Friday, 18-Jan-2008 10:30AM EDT
Story from United Press International. Copyright 2008 by United Press International (via ClariNet)

NEW YORK, Jan. 18 (UPI) -- U.S. stocks rallied Friday on upbeat financial reports and hopes for a U.S. economic stimulus package after the worst session of the year.

The Dow Jones industrial average rose 117.95 points, or 0.97 percent, at 12,272.16 in early trading. The Nasdaq composite was up 21.09, or 0.90 percent, at 2,367.99. The Standard & Poor's 500 index was up 10.17 points, or 0.76 percent, at 1,343.42.

Oil futures rose 95 cents to $91.08 a barrel.

Bonds were mixed. The 2-year Treasury note was unchanged, yielding 2.420 percent Friday.

The dollar was mixed. The euro exchanged hands at $1.4668 from $1.4657 late Thursday. The greenback traded at 107.18 yen from 106.68 yen late Thursday.

Overseas, Tokyo's Nikkei 225 closed up 0.57 percent at 13,861.29.

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