Hobbs
12-30-2006, 08:31 AM
Stocks soared to their highest level ever in a surprise holiday rally as investors declared an end to the nation's housing-slump scare.
Shares across the board raced ahead to firm up double-digit gains for the year, while other stock markets throughout the world also rallied to post powerful pops as high as 46 percent.
Analysts said widening optimism about lower energy prices ahead - combined with an apparent recovery in the battered U.S. housing market - sent the Dow Jones industrial average to a new record of 12,510.57, up 102.94, for a 16.73 percent gain this year in light trading.
http://www.nypost.com/seven/12282006/business/out_with_a_bang_business_paul_tharp.htm
Shares across the board raced ahead to firm up double-digit gains for the year, while other stock markets throughout the world also rallied to post powerful pops as high as 46 percent.
Analysts said widening optimism about lower energy prices ahead - combined with an apparent recovery in the battered U.S. housing market - sent the Dow Jones industrial average to a new record of 12,510.57, up 102.94, for a 16.73 percent gain this year in light trading.
http://www.nypost.com/seven/12282006/business/out_with_a_bang_business_paul_tharp.htm