Wall Street Extends Gains to Four Days; Gold Hits Eleven-Month High

Stocks on Wall Street extended their rally to four days after positive job data was reported and the European Central Bank's Mario Draghi made announcements that their bond-buying program is ready and that he still stands behind the euro. After his speech the euro hit a two-week high against the dollar. Also on Thursday oil prices rallied after worrying strikes in Syria and a fire at a refinery in Texas. The S&P 500 rose 1.4% and was positive for the fourth session, the Dow Jones average rose 0.63% and Nasdaq was up 0.32%. In metals trading, gold reached an eleven-month high of $1,794.40.
After the first Presidential debate last night, energy companies such as Peabody Energy Corp (BTU) and Alpha Natural Resources (ANR) advanced. Many retail stores reported monthly sales with the Gap (GPS) seeing sales rise 6%.

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Published on Oct 4, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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