Investors shrugged off rumors of a Goldman Sachs writedown to do some bargain hunting. Oil pushed ever closer to $100 per barrelStocks moved higher Tuesday on some good news from technology, energy and agricultural stocks. The market's late-day rally came after the batting down of yet another round of rumors about big subprime losses at a big Wall Street firm.
On Tuesday, the Dow Jones industrial average rose 117.54 points, or 0.87%, to 13,660.94. The broader S&P 500 index added 18.1 points, or 1.2%, to 1,520.27. The tech-heavy Nasdaq composite index was up 30 points, or 1.07%, to 2,825.18.
Investors seemed to ignore troubling trends, including oil's move ever closer to a record price of $100 per barrel. Gold also hit highs and the U.S. dollar continued to fall against the Euro.
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