Regis Philbin
Apr 16th, 2007, 07:37 PM
http://www.foxnews.com/story/0,2933,266346,00.html
Stocks Surge on Retail Sales, Earnings
Monday, April 16, 2007
NEW YORK — U.S. stocks rallied Monday, completing their recovery from a late February sell-off as Citigroup Inc.'s results, a deal for student lender Sallie Mae (SLM) and upbeat retail data suggested a strong economy.
The Dow Jones industrial average climbed 108.33 points, or 0.86 percent, to end at 12,720.46 — not far below its lifetime high of 12,795.93. The Standard & Poor's 500 Index shot up 15.62 points, or 1.08 percent, to finish at 1,468.47. The Nasdaq Composite Index gained 26.39 points, or 1.06 percent, to close at 2,518.33.
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The Standard & Poor's 500 index rose to a 6-1/2-year high and the Dow climbed to within 75.5 points of its record high set on Feb. 20.
Shares of Citigroup, the largest U.S. financial institution, led advances in both the S&P 500 and the Dow. Wachovia Corp. (WB), the fourth-largest U.S. bank, also gained after posting results that beat expectations.
Data showing a slightly stronger-than-expected rise in March retail sales helped the advance.
Stocks Surge on Retail Sales, Earnings
Monday, April 16, 2007
NEW YORK — U.S. stocks rallied Monday, completing their recovery from a late February sell-off as Citigroup Inc.'s results, a deal for student lender Sallie Mae (SLM) and upbeat retail data suggested a strong economy.
The Dow Jones industrial average climbed 108.33 points, or 0.86 percent, to end at 12,720.46 — not far below its lifetime high of 12,795.93. The Standard & Poor's 500 Index shot up 15.62 points, or 1.08 percent, to finish at 1,468.47. The Nasdaq Composite Index gained 26.39 points, or 1.06 percent, to close at 2,518.33.
Click here to visit FOXBusiness.com's Investing Center.
The Standard & Poor's 500 index rose to a 6-1/2-year high and the Dow climbed to within 75.5 points of its record high set on Feb. 20.
Shares of Citigroup, the largest U.S. financial institution, led advances in both the S&P 500 and the Dow. Wachovia Corp. (WB), the fourth-largest U.S. bank, also gained after posting results that beat expectations.
Data showing a slightly stronger-than-expected rise in March retail sales helped the advance.