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Midday comeback holds in Tuesday markets
NEW YORK, May 6 (UPI) -- A rally from a tail-dragging morning lifted U.S. stock indexes out of the red by the close Tuesday afternoon.
The comeback pushed the Dow Jones from a loss of nearly 100 points to a gain of 51.29 points.
Resilient investors kept the rally going in spite of inflation-pushing crude oil prices closing at a record $121.85 per barrel Tuesday.
The Dow Jones industrial average closed at 13,020.83 points, up 0.4 percent.
The Standard and Poor's 500 index gained 10.77 points to 1,418.26, up 0.77 percent. The Nasdaq composite gained 19.19 points to 2,483.31, up 0.78 percent.
On the New York Stock Exchange 1,934 stocks advanced and 1,168 declined on a volume of 1.233 billion shares traded.
The 10-year U.S. Treasury note fell 12/32 to yield 3.916 percent.
The dollar fell. The euro traded at $1.5525 from Friday's $1.5488 and the dollar traded at 104.77 yen from Friday's 104.84 yen.
Hong Kong's Hang Seng index gained 78.18 points to 26,262.13, up 0.3 percent Tuesday.
In London, the FTSE 100 index gained 1.5 points to 6,217, up 0.02 percent.
In Japan, the stock market was closed Tuesday.
Copyright 2008 by United Press International
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