Markets Wrap Up Banner Week

Best week in 6 months
By Jonas Oransky,  Newser Staff
Posted Sep 21, 2007 3:37 PM CDT
Markets Wrap Up Banner Week
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, Aug. 8, 2007 said second-quarter profits dropped sharply on takeover costs and expenses tied to...   (Associated Press)

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. (More stock market stories.)

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