Stocks, Oil Head Higher

By Kevin Spak,  Newser Staff
Posted May 20, 2009 8:44 AM CDT
Traders work on the floor of the New York Stock Exchange Thursday, May 14, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks headed higher at today's open as rallying commodity prices gave traders hope about the economy. The Dow rose 65 points, while the Nasdaq rose 0.8% and the S&P 1%. Oil prices topped $60 a barrel, sending Exxon and Chevron slightly higher. Bank of America, meanwhile, rose 6% after a $13.5 billion stock sale that generated half the capital the government has demanded it raise. And Target was up more than 5% after better-than-expected earnings.