Markets Wrap Up Banner Week

Best week in 6 months
By Jonas Oransky,  Newser Staff
Posted Sep 21, 2007 3:37 PM CDT
Various models of phones are displayed on a computer screen as a customer is helped at a Sprint store in this Feb. 28, 2007 file photo, in Murray, Utah. Wireless provider Sprint Nextel Corp. on Wednesday,...   (Associated Press)
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(Newser) – Stocks climbed again today, closing out the biggest weekly gain since March. The Dow rose 53.49 to 13,820.19, the Nasdaq climbed 16.93 to 2,671.22, and the S&P 500 closed at 1,525.75, up 7.00. The Dow and S&P rose 2.8% on the week. In the wake of the Fed's rate cut Tuesday, "confidence is returning", one fund manager told Bloomberg.

Software giant Oracle led the rally by reaching a 6-year high, beating predictions. Sprint Nextel had its biggest jump in 3 months, partly on speculation that the company might be acquired. Google also reached a record $560.79. But the dollar hit a record low against the euro as worries mounted that the Fed might cut rates again.