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New York - Dow Jones Average Hits Highest Mark Since '07

Published on: May 1, 2012 04:23 PM
By: AP
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Traders work on the floor of the New York Stock Exchange, May 1, 2012.  REUTERS/Brendan McDermidTraders work on the floor of the New York Stock Exchange, May 1, 2012.  REUTERS/Brendan McDermid

New York - The Dow Jones industrial average is closing at its highest level in more than four years.

The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday. Orders, hiring and production all rose in April.

The Dow added 66 points to 13,279, its highest close since Dec. 28, 2007.

The Standard & Poor’s 500 index rose eight points to 1,406. The Nasdaq composite climbed four to 3,050.

All 10 industry groups within the S&P 500 were higher, led by energy companies. Chesapeake Energy Corp. jumped 6 percent on reports that the company will replace its chairman, Aubrey McClendon.

Nearly two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was light at 3.7 billion.


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Read Comments (5)  —  Post Yours »

1

 May 01, 2012 at 05:49 PM bloggers Says:

Great job, President Obama!!

2

 May 01, 2012 at 06:34 PM victorg Says:

Well actually - great job business cycle.

Anyway with housing in the slumps and unemployment still at all time highs, let's not get too giddy about the obama praise.

3

 May 01, 2012 at 07:38 PM Goldberg Says:

Reply to #1  
bloggers Says:

Great job, President Obama!!

I had no idea that Obama was a hedge fund manager.

4

 May 02, 2012 at 11:10 AM market analyst Says:

The talk around Wall Street is about obama being defeated (Ha'ba Ah'laynu l'tova!) in November. When that happens look for the market to really move up and again when we finally get rid of this socialist once and for all in Jan.

5

 May 02, 2012 at 12:58 PM Anon Says:

Reply to #4  
market analyst Says:

The talk around Wall Street is about obama being defeated (Ha'ba Ah'laynu l'tova!) in November. When that happens look for the market to really move up and again when we finally get rid of this socialist once and for all in Jan.

For a "market analyst", you sure have no understanding of the meaning of socialism. It might be helpful if you actually learned about the subject. A real socialist would have abolished the market, not loaned money to the banks and financial institutions or auto industry, and instituted true public health insurance instead of a plan that requires people to pay the capitalist insurance companies for private policies. There is a difference between finding a real fact about Obama that you oppose and repeating a ridiculous talking point from some ignorant talk show host.

6

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