US stocks advance as oil falls
The Dow Jones average rose 130.43, or 1.02%, to 12,876.31.
Wall Street rallied as oil prices, supported by a stronger dollar, fell back and alleviated some of investors' concerns about accelerating inflation.
The dollar's advance, a break from the greenback's long losing streak, also helped soothe some of Wall Street's worries about inflation's impact on consumer spending.
The Dow rose 130.43, or 1.02%, to 12,876.31.
Broader stock indicators also rose. The Standard & Poor's 500 index advanced 15.30, or 1.10%, to 1,403.58, and the Nasdaq composite index rose 42.97, or 1.76%, to 2,488.49.
- Post:
del.icio.us
Digg
Netscape
Newsvine
Now Public- Q&A