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Wall Street
Published in Saudi Press Agency on 02 - 08 - 2007

Stocks rose in a last-minute rally Wednesday after a turbulent session because of the ongoing concerns about U.S. home loans and the credit market.
Analysts said Wednesday's trading is typical of the market's performance in recent weeks, when investors alternately focus on concerns like subprime loans and rising energy prices, and positives like low unemployment, low interest rates and growing corporate profits.
Stocks fluctuated through much of the day, with the Dow Jones moving from positive to negative territory and back again, before rallying to a gain of 150 points. The Dow Jones industrial average index rose 150.38, or 1.14 percent, to 13,362.37.
The broader Standard & Poor's 500 index rose 10.54 points, or 0.72 percent, to 1,465.81, and the technology-heavy Nasdaq index rose 7.60 points, or 0.30 percent, to 2,553.87.
The Russell 2000 index rose 1.80 points, or .23 percent, to 777.92. The New York Stock Exchange composite index rose 18.55, or .19 percent, to 9,573.05. The American Stock Exchange composite index however, fell 14.86, or 0.65 percent, to 2,255.80.
Light sweet crude oil prices fell $1.68 to $76.53 a barrel following the government's weekly report on crude inventories, which showed a huge drawdown last week.


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