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Article: Wall Street rally extends into a third month
- Article from:
- AP Online
- Article date:
- May 1, 2009
- Author:
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Wall Street extended its rally into a third month, shrugging off more reminders of the recession and placing cautious bets on an economic recovery.
Stocks ended higher Friday after a day of quiet back-and-forth trading as investors determined that they could add to the gains of March and April despite mixed economic data and earnings reports.
The advance left the stock market's major gauges with gains of about 1.5 percent for the week.
Wall Street has been growing more optimistic about the economy stabilizing, but the reports Friday confirmed that business conditions remain difficult and that any recovery is likely to be gradual.
A private group's measure of the ...