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Article: Chicago Tribune Market Report Column.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- August 9, 2002
CopyrightCOPYRIGHT 2002 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Bill Barnhart
Aug. 9--Hopes for a late-summer stock market rally gathered fuel from an unexpected corner of the world Thursday.
A record-setting $30 billion bailout for Brazil, approved Wednesday by the International Monetary Fund, surprised analysts and gave Wall Street a lift toward a third straight daily advance in moderate trading.
The Dow Jones industrial average rose 255.87 points, or 3 percent, to 8712.02. Only two of the 30 Dow industrials--Home Depot and McDonald's--did not post a gain.
Major bank stocks rallied on news of the IMF aid package for Brazil, which is aimed at bridging the expected financial and political ...