Archive for Tuesday, November 10, 2009
Dow jumps to high for year as dollar slumps
November 10, 2009
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New York City — The Dow Jones industrial average stormed to its highest level in more than a year Monday as a falling dollar boosted prices for gold, oil and other commodities. Stocks also jumped as investors grew more confident that governments around the world will keep interest rates low to help the global economy.
Energy and materials stocks led the market. The major indexes rose 2 percent and the Dow jumped 200 points for the second time in three days, reaching its highest level in 13 months.
The advance was further proof that investors, at least for now, aren’t troubled by the unemployment rate that has passed 10 percent.
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