Dow Surges 132 as Dollar Falls

Commodities surge as dollar falls
By Nick McMaster,  Newser Staff
Posted Oct 6, 2009 3:09 PM CDT
Traders work on the floor of the New York Stock Exchange Tuesday, Oct. 6, 2009.   (AP Photo/Richard Drew))
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(Newser) – Stocks indices saw big gains today as a result of a global chain of events: Australia’s central bank raised interest rates, the first to do so since the recession began. The move stoked optimism about the global economy and sank the value of the US dollar, which in turn boosted commodity prices—and the stocks of commodity firms. The Dow gained 132 points to close at 9,731. The Nasdaq added 35 points, rising to 2,104, and the S&P 500 gained 14 points to settle at 1,055, the Wall Street Journal reports.