AmEx Leads Dow Rally

Oil jumps on worries about supplies in UK, Nigeria
By M. Morris,  Newser Staff
Posted Apr 25, 2008 3:39 PM CDT
A trader checks the monitors before the start of trading on the floor at the New York Stock Exchange in New York, Thursday, April 24, 2008.   (AP Photo/Seth Wenig)
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(Newser) – Stocks were mixed today as financials rallied but Microsoft dragged down the tech sector.  Nevertheless, all three major indexes recorded back-to-back weekly gains for the first time since February, Bloomberg reports. The Dow closed up 42.91 at 12,891.86, the Nasdaq dipped 5.99 to 2,422.93, and the S&P 500 rose 9.02 to 1.397.84.

"It's not too early to get into some of the financials," said one asset manager. "I'm looking for a pretty good second half of this year." Oil hovered around $119 a barrel on labor unrest in the UK, fears of supply-chain disruptions in Nigeria, and news that a US contractor's ship in the Persian Gulf fired at two boats.