Stocks rally Tuesday

The long holiday weekend has breathed life into the stock market. Stocks have rallied on Tuesday. Investors went after shares hit when indexes down over 15% over the past two months.

Both the Dow and Nasdaq closed at an eight month low on Friday. The Dow Jones was up by 140 points or 1.5%. The Nasdaq composite was up 38 points, about 1.9%.

Gains were broad based, with 29 of 30 Dow shares rising, led by Caterpillar, Chevron, Hewlett-Packard, IBM, Microsoft, JPMorgan Chase, 3M and Wal-Mart Stores.

Progress from banks are helping to drive the recovery. Bank of America was up 2.5% and the KBW bank index was up 2.6%.

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Posted on July 6, 2010, in Politics & The Economy and tagged , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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