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Article: Dow rises 255 points on strong reports, only 10.9 percent down for year.(The Dallas Morning News)
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- November 27, 2002
- Author:
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune News Service. 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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If this keeps up, the Dow Jones industrial average may actually finish the year with a gain.
A stampede of strong economic news spawned a broad market rally Wednesday and gave credence to the notion that a new bull is on the way.
The Dow soared 255.26 points, or 2.9 percent, to close at 8931.68. That leaves the index of 30 blue-chip stocks down only 10.9 percent for the year and within striking distance of breaking even.
"With each day that passes, I think investors will gain conviction that we saw the market lows in October," said Richard Cripps, chief market strategist at Legg Mason Inc. in Baltimore.
The technology-laden Nasdaq ...