Investors continued buying after a brief pullback as they sorted out testimony today from Fed Chairman Ben Bernanke. Early morning news of a rate cut in China was the catalyst for a positive end to the trading session. Heading into the last hour of trading, the Dow rise nearly .9%, the S&P 500 was up .6% and the Nasdaq was up one quarter of a percent.
Also today was a slightly better than expected report on initial jobless claims, slightly by a Holiday-shortened week.
Among stocks leading the Dow higher, Boeing (NYSE:BA), Caterpillar (NYSE:CAT) and 3M (NYSE:MMM).
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