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Oil, Transport Send Dow Up 97

By Harry Kimball,  Newser Staff

Posted May 29, 2009 3:16 PM CDT

(Newser) – Markets tacked on solid gains today, with the Dow and S&P 500 up for a third consecutive month, the Wall Street Journal reports. Oil was up to a 6-month-high, as were transport stocks on hopes of orders. “There are signs things are being transported,” a manager said. The Dow was up 96.53 to 8,500.33. The S&P gained 12.31 to 919.14. And the Nasdaq added 22.54, ending at 1,774.33.

For the week, the Dow gained 2.51%, the S&P rose 3.47%, and the Nasdaq tacked on 4.66%.

A pair of traders get together on the floor of the New York Stock Exchange.
A pair of traders get together on the floor of the New York Stock Exchange.   (AP Photo)
Traders work on the floor of the New York Stock Exchange.
Traders work on the floor of the New York Stock Exchange.   (AP Photo)
A Union Pacific freight train travels in Omaha, Neb.
A Union Pacific freight train travels in Omaha, Neb.   (AP Photo)
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The dollar was supported for awhile because there was a safety component to it. But now that things are getting back to normal in the economy, it's moving away from being overvalued. - Paresh Upadhyaya, Putnam Investments

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COMMENTS
Showing 2 of 2 comments
kokuaguy
May 30, 2009 5:31 AM CDT
Mahalo for that comment, AC.
AnnieChrist
May 29, 2009 8:43 AM CDT
Quiet please everyone, I'm trying to hear hannity, kramer, the WSJ, et al talking about the Obama Stock Market. I do remember them saying in Jan, Feb & March how the stock prices during that time were due to Obama's policies and his financial team. Strangely, I never hear reference to the Obama Stock Market any more.

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