U.S. stock indexes surge to close up
U.S. stock indexes rallied Tuesday to lower oil prices and news that Citigroup would get a multibillion-dollar financial boost.
The Dow Jones industrial average closed up 215 points, or 1.69 percent, to 12,958.44 points. The Standard & Poor's 500 added 21.01, 1.49 percent, to 1,428.23. The Nasdaq composite index posted a 1.57 percent gain, adding 39.81 points to 2580.80.
Citigroup announced it would get a $7.5 billion capital infusion from the investment arm of Abu Dhabi. The price for a barrel of crude oil, meanwhile, closed at $94.42, down $3.28.
"The news from Citi helped, (but) I think it's a technical bounce after yesterday's declines," Peter Cardillo, of Avalon Partners, told The Wall Street Journal.
On the New York Stock Exchange, 2,211 stocks gained and 1,078 fell on a listed volume of 4.3 billion shares.
The 10-year U.S. Treasury note lost $9.06 per $1,000 invested, yielding 3.953 percent.
The euro traded at $1.4828 from $1.4878 late Monday, while the dollar changed hands at 108.79 yen from 107.26 yen.
In Tokyo, the Nikkei 225 Average rose 0.58 percent to 15,222.85 points.
The FTSE 100 Index in London fell 39.80. or 0.64 percent, to 6,140.70.
// Copyright 2007 by United Press International
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