Markets climb at closing bell on hopes recovery signs prove real

Stocks surged in the final half hour of trading today, capping a third straight month of gains, as commodity and bank shares bounced and the Dow Jones industrial average rose 97 points, or 1.15 percent, to 8,500. Traders betting that an economic recovery could be at hand built up their positions in sectors that have suffered in the global downturn. Monsanto (MON), Freeport-McMoRan (FCX) and U.S. Steel (X) all outperformed the broader markets.

But General Motors (GM), set to seek bankruptcy protection early next week, fell 33 percent to below $1 a share. The automaker reached an agreement with workers designed to speed its re-emergence from bankruptcy, according to reports.

For more stocks making moves today, be sure to check out BloggingStocks' market wrap-up.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »

Add a Comment

*0 / 3000 Character Maximum