U.S. markets head higher

Oct. 19, 2009 at 5:29 PM
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NEW YORK, Oct. 19 (UPI) -- U.S. markets rose Monday following a week in which oil prices gained more than $6 per barrel on the New York Mercantile Exchange.

Oil prices soared on the strength of stock markets. In turn, rising oil prices are a glaring bellwether for inflation, so a rise in oil prices could undermine stocks.

If so, investors ignored the warning Monday.

By close, the Dow Jones industrial average added 0.96 percent, 96.28 points, to 10,092.19. The Standard & Poor's 500 rose 0.94 percent, 10.23 points, to 1,097.91. The Nasdaq composite index of technology stock gained 0.91 percent, 19.52 points, to 2,176.32.

On the New York Stock Exchange, 2,240 stocks advanced and 799 declined on a volume of 4.6 billion shares traded.

The benchmark 10-year Treasury rose 6/32 to yield 3.39 percent.

The euro rose to $1.4962 from Friday's $1.4894. Against the yen, the dollar fell to 90.59 yen from Friday's 90.87 yen.

The Nikkei 225 index in Japan lost 0.21 percent, 21.05 points, to 10,236.51.

The FTSE 100 index in Britain rose 1.76 percent, 91.30, to 5,281.54.

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