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Equity rally returns with strong gains

May 17, 2013 at 5:14 PM   |   Comments

NEW YORK, May 17 (UPI) -- A rally in U.S. markets returned with gusto on Friday.

The Dow Jones industrial average closed at a record 15,354.40 points, up 121.18 points or 0.8 percent, setting a high water mark for the third time in the past four sessions.

Gains were balanced across business sectors as 23 of 30 Dow components rose Friday, led by JPMorgan Chase, which gained 2.6 percent.

The Boeing Company added 2.42 percent, while Microsoft gained 2.32 percent.

The Standard and Poor's 500 hit a record close at 1,667.47, gaining 17 points or 1.03 percent on the day. The Nasdaq composite index of tech-dominated stock gained 33.72 points or 0.97 percent to reach 3,498.97.

On the New York Stock Exchange, 2,238 stocks advanced and 861 declined on a volume of 3.4 billion shares traded.

The 10-year treasury note fell 21/32 to yield 1.957 percent.

The U.S. dollar rose to a four-year high against the yen, reaching 103.20 yen, up from Thursday's 102.26 yen. The euro fell to $1.2836 from $1.2882.

In Japan, the Nikkei 225 index gained 0.67 percent -- 100.88 points -- to 15,138.12. In Britain, the FTSE 100 index rose 0.53 percent, adding 35.26 points, to 6,723.06.

Gold was down, dropping $29 to $1,357.90 per troy ounce.

West Texas Intermediate crude oil added 75 cents to $96.02 per barrel.

On the Chicago Board of Trade, corn for July delivery gained 11 1/2 cents to $6.53 per bushel. Soybeans for July added 20 1/2 cents to $14.48. Wheat for July lost 5 3/4 cents to $6.82.

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