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Wall Street ends with moderate gain; Dow up 29 pts
Published on Thu, Jul 24, 2008 at 08:13 , Updated at Thu, Jul 24, 2008 at 08:49
Source : moneycontrol.com
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US markets rose for a second straight session as financials rally and oil broks below the key USD 125 a barrel mark. Shares of both Fannie and Freddie rose more than 11%. The Fed reported that economic activity slowed through mid-July amid elevated price pressures across most of the country. The outlook for consumer spending was generally weak. The upward trend continues on Wall Street. Further drop in oil prices support gains. Financials rally on news that Housing Rescue Bill was nearing passage in US Congress. Crude drops over $ 4 to near $124/bbl. Dollar became stronger against other major currencies The Dow gained 29.88 points, or 0.26%, to 11,632.38. The Standard & Poor's 500 index advanced 5.19 points, or 0.41%, to 1,282.19 and the Nasdaq composite index added 21.92 points, or 0.95%, to 2,325.88. A look at how the Indian ADRs performed:
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