Recovery hopes lift Wall Street

Stock markets in the United States rose for a third day yesterday, hitting fresh 2009 highs in a broad-based rally after economic data suggested a stronger-than-anticipated global recovery.


Energy and manufacturing companies were among the strongest, benefiting from data indicating improved industrial demand and a falling dollar, which makes American exports more competitive in world markets.

The Dow Jones industrial average was up 108.30 points, or 1.1%, at 9791.71. The Standard & Poor's 500 Index was up 16.13 points, or 1.5%, at 1,068.76. The Nasdaq Composite Index was up 30.51 points, or 1.5%, at 2,133.15.

The benchmark S&P index is now up 58% since hitting 12-year lows in early March and is up 18% since the start of the year.

Posted in: Business-Economic,World News