US STOCKS SNAPSHOT-Wall St jumps on natural resources boost

Wed Jul 1, 2009 10:33am EDT
 
[-] Text [+]
 NEW YORK, July 1 (Reuters) - U.S. stocks advanced on
Wednesday as a weaker U.S. dollar lifted commodity prices,
boosting shares of natural resource companies, including oil
and mining stocks.
 * The boost from the dollar also helped multinational
companies, whose profits tend to benefit when they translate
overseas earnings back into the U.S. currency.
 * Coca-Cola Co KO.N   jumped 2.3 percent, while IBM Corp
(IBM.N) shot up 1.2 percent.
 * U.S. front-month crude CLc1 was up $1.39, or 1.8
percent, at $71.30, while the U.S. dollar index .DXY shed 0.7
percent.
 * The Dow Jones industrial average .DJI gained 98.63
points, or 1.17 percent, to 8,545.63. The Standard & Poor's 500
Index .SPX gained 9.88 points, or 1.07 percent, to 929.20.
The Nasdaq Composite Index .IXIC gained 21.13 points, or 1.15
percent, to 1,856.17.
 (Reporting by Ellis Mnyandu; Editing by Padraic Cassidy)


 

More News

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video