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Post by bot on Aug 1, 2013 17:35:19 GMT -5
U.S. stock rally has S&P 500 above 1,700
NEW YORK (MarketWatch) -- U.S. stocks jumped on Thursday, with the S&P 500 surpassing 1,700 for the first time, after data showed jobless claims falling to a five-year low and a manufacturing index surging to a two-year high. "Seventeen-hundred is our year-end target, so this has been faster and stronger than we expected," said Marc Doss, regional chief investment officer at Wells Fargo Private Bank, referring to the S&P 500. AThe Dow Jones Industrial Average rallied 128.48 points, or 0.8%, to 15,628.02. The S&P 500 climbed 21.14 points, or 1.3%, to 1,706.87. The Nasdaq Composite rose 49.37 points, or 1.4%, to 3,675.74.
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