Investors Bet Wall Street Rally Will Continue

Indexes on Wall Street rose Monday as investors bet a 2010 rally would continue and factory and housing data pointed to a strengthening recovery.

In afternoon trading, the Dow Jones industrial average was 116.25 points, or 1 percent, higher, while the broader Standard & Poor’s 500-stock index gained 15.37 points, or 1.2 percent. The technology heavy Nasdaq added 38.46 points, or 1.45 percent.

The Institute for Supply Management said its index of national factory activity rose to 57 points last month from 56.6 in November. That was in line with the median forecast of economists surveyed by Reuters. A reading above 50 indicates expansion in the sector.

Read Full Article from New York Times

- Posted: 2011-01-03 13:50:22

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