Summary
NEW YORK -- Wall Street shot higher Thursday as investors, while anticipating another dismal jobs report today, viewed the rising dollar and falling oil prices as promising signs for the economy. The dollar, which has recently strengthened after a protracted decline, rallied to push the euro down more than 1 percent to $1.5461 in late trading. Trading was thin, with major currency markets in London and elsewhere closed for the May Day holiday, but the dollar's advance helped crude oil fall briefly near $110 a barrel and then settle at $112.52. That alleviated some of the inflation-related anxieties in the market, given that crude recently traded at a record near $120 a barrel.
The Dow rose 189.87, or 1.48 percent, to 13,010.00. The Standard & Poor's 500 index rose 23.75, or 1.71 percent, to 1,409.34. The Nasdaq composite index climbed 67.91, or 2.81 percent, to 2,480.71.See the full content of this document
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Fortified Dollar Boosts Wall Street
After the Fed's rate cut Wednesday, bank stocks benefited Thursday -- Citigroup Inc. rose $1...
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