Manufacturing News Sends Stocks Up

By: Associated Press
By: Associated Press

NEW YORK (AP) - Stock are reviving a September rally and closing with big gains following more good news on the economy.

A surprise jump in durable goods orders and corporate spending sent stocks vaulting higher Friday, ending three days of doldrums. A gain in business confidence in Germany also helped markets.

According to preliminary calculations, the Dow Jones industrial average rose 198, or 1.9 percent, to close at 10,860.

The Standard & Poor's 500 index rose 24, or 2.1 percent, to 1,149, ending a three-day losing streak. The Nasdaq composite index rose 54, or 2.3 percent, to 2,372.

About five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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