Updated from 4:31 p.m. EDT
Stocks in New York rallied in the final minutes of May trading perhaps due to some end-of-month window-dressing, after crude oil settled above $66 a barrel, the dollar continued to weaken and investors prepared to say goodbye to old General Motors(HP Quote).
The Dow Jones Industrial Average rose 96.53 points, or 1.2%, to 8500.33, while the S&P 500 was 12.31 points, or 1.4% higher, at 919.14. The Nasdaq was better by 22.54, or 1.3%, at 1774.33.
The late-day rally was partly fund managers readjusting portfolios for the end of the month, says Anu Sharma, managing director of the Market Intelligence Desk at Nasdaq OMX. Some of the movement also could have also been due to index managers, as today was the MSCI semiannual rebalance, and today's market caps will be used for the Russell rebalance the last day of June, he says. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,447.70 | 1,105.18 | 2,190.83 | 35.71 |
Oil *
71.40
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UP
41.87
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2.83
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DOWN
0.03
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UP
0.89
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10 Yr
3.57%
SPDR Gold
109.52
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+0.40%
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+0.26%
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+0.00%
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+2.56%
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Data delayed 20 minutes |
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