Friday, August 29, 2008

US mkts gain on better GDP growth; Dow up 212 pts


In the US markets, stocks rallied egged on by stronger than expected GDP growth and a drop in oil prices. Second quarter GDP came in at a better than expected 3.3%. Weekly jobless claims also dipped. Volumes however continued to be low.

The Dow gained 212.67 points, or 1.85%, to 11,715.18. The S&P 500 index rose 19.02 points, or 1.48%, to 1,300.68, and the Nasdaq composite index advanced 29.18 points, or 1.22%, to 2,411.64.

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