NEW YORK, Nov. 24 (UPI) -- After falling to a new low against the euro last week, the dollar's stabilizing helped spark a rally on Wall Street Monday.
In early afternoon trading, the Dow Jones industrial average was up 99.71 or 1.04 percent while the tech-heavy Nasdaq composite index was up 33.24 or 1.76 percent to 1,927.12. The Standard & Poor's 500 was up 12.63 or 1.22 percent at 1,047.91.
Investors took heart in the dollar's performance against the euro, which was trading at $1.1775, down from more than $1.19 last week.
No economic reports were scheduled for Monday, but investors seemed to be anticipating good news the rest of the week.
Tuesday, the third-quarter gross domestic product report is due, and is expected to be revised upward from an already-blistering rate of 7.2 percent the Wall Street Journal reported.
European stocks traded mostly higher Monday. London's FTSE-100 Share Index ended up 63.40, or 1.47 percent, at 4,382.40.
