New York, March 9 (DPA) US stocks gained ground Tuesday amid hopes on Wall Street that OPEC would increase oil production to make up for lost production in Libya.
Reports of the finance sector’s gradually overcoming its mortgage problems and merger hopes in the telecommunications sector also bolstered stocks.
The blue-chip Dow Jones Industrial Average jumped 124.35 points, or 1.03 percent, to 12,214.38. The broader Standard and Poor’s 500 Index gained 11.69 points, or 0.89 percent, to 1,321.82. The technology-heavy Nasdaq Composite Index added 20.14 points, or 0.73 percent, to 2,765.77.
The US currency rose to 71.93 euro cents from 71.58 euro cents Monday. The dollar was up against the Japanese currency to 82.66 yen.