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Sinking oil cools inflation fears, lifts Wall St
Fri, May 30, 2008
Reuters

>NEW YORK, U.S. - U.S. stocks rose on Thursday as a sharp drop in oil soothed inflation fears, while an upward revision in a broad measure of U.S. economic growth suggested a recession may be avoided for now.

Preliminary figures showed the Dow Jones industrial average ended up 52.19 points, or 0.41 percent, at 12,646.22. The Standard & Poor's 500 Index was up 7.33 points, or 0.53 percent, at 1,398.17. The Nasdaq Composite Index was up 21.62 points, or 0.87 percent, to close at 2,508.32.

 

 
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