SNAPSHOTS
Bush welcomes Nobel winners
U.S. stocks rally sharply, oil prices drop
Fri, Nov 05, 2004UPI
NEW YORK -- U.S. stocks rallied sharply Thursday with a new post-election vitality as oil prices fell to a five-week low.
Blue chippers posted a second straight triple-digit gain to a seven-week high and Nasdaq surged to its best level in more than four months.
The Dow Jones industrials closed up 177.71 points, or 1.75 percent, to 10,314.76. Nasdaq gained 19.30, or 0.96 percent, to 2,023.63. The Standard & Poor's 500 climbed 18.47, or 1.62 percent, to 1,161.67.
Oil prices, meanwhile, fell more than 4 percent to end below $49 a barrel.
Gold futures charged to seven-month highs.
Bonds were higher. The 10-year Treasury note rose about 1/16 point, or 62.5 cents for each $1,000 invested. The yield fell to 4.07 percent.
The dollar weakened. It traded at 106.01 yen, down from 106.25, while the euro rose against the dollar to $1.2870 from $1.2823.
Copyright 2004 by United Press International
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