Wednesday, September 9, 2009

US Stocks Close Higher, Paced By Industrials

Another round of buying in industrials, including Caterpillar and General Electric, spurred stocks higher Wednesday, while an upgrade for SanDisk helped keep tech stocks in the green.

Overall, the Dow Jones Industrial Average closed up for the fourth straight session, rising 49.88 points, or 0.53%, to 9547.22. Leading the index, Caterpillar tacked on $1.44, or 3.1%, to $48.41, while General Electric increased 37 cents, or 2.6%, to 14.87.

Investors had come into this week seemingly on edge. Given the Dow was up more than 45% in the past five months with only slight pullbacks, there was concern a bigger slide could be in the cards. So far this week, however, the only thing on the decline has been the dollar. In turn, commodities have pushed higher while global industrials and many other sectors have spent much of Tuesday and Wednesday's trading on the climb. (more)

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