Stocks put together two winning days; Dow surges 274 points
Stocks staged their first back-to-back winning days since mid-June, after starting off slowly but then picked up strength and staged a day-long rally of the sort we haven't seen in a while.
The Dow rose 274 points, breaking back up through the 10,000 level, closing up 2.8 percent at 10,018.28. All 30 Dow stocks finished in the green.
The broader S&P 500 closed up 3.1 percent at 1,060.27. The Dow picked up 274 points today.
The tech-heavy Nasdaq closed up 3.1 percent at 2,159.47.
Financials and materials led the rally today. Financials in the S&P 500 rose 4.4 percent today. One day after mini-rally prompted by bargain-hunters, traders seemed to be buying on anticipation of positive coming earnings. Financial services holding company State Street led the rally when it forecast second-quarter earnings that exceeded expectations.
The last time stocks had back-to-back winning days was June 17-18.
The Dow is now up 2.5 percent for July but down 3.9 percent for the year.
Oil was up 3.5 percent at $74.51 per barrel. Gold is back down under $1,200 per ounce.
July 7, 2010; 4:03 PM ET
Categories: Wall Street
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