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Article: nation and world.(Front)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- October 7, 2009
CopyrightCOPYRIGHT 2009 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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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Confident investors push stocks higher
NEW YORK | Investors bought up stocks for a second day, betting corporate profits will surge as the global economy recovers. The Dow Jones industrial average rose 132 points, bringing its two-day advance to 244. Investors' show of confidence ahead of a flood of corporate earnings reports came as Australia became the first major country to raise interest rates since the onset of the financial crisis last year. The move signals that policymakers see the country's economy as strong enough to withstand higher borrowing costs.
Australia's decision also dented demand for the U.S. dollar, which, in turn, raised commodity ...