Down climbs strongly as oil prices fall
16/05/2005 - 21:55:49Investors encouraged by falling oil prices bid stocks sharply higher on Wall Street today as fears of a slowdown in consumer spending eased.
The broad-based rally boosted the Dow Jones industrial average more than 112 points.
The Dow Jones industrial average rose 112.17, or 1.11%, to 10,252.29.
Broader stock indicators also climbed higher. The Standard & Poor’s 500 index was up 11.64, or 1.01%, at 1,165.69, and the Nasdaq composite index gained 17.65, or 0.89%, to 1,994.43.
The Russell 2000 index of smaller companies was up 9.69, or 1.66%, at 591.71.
