10 May '11, 5am

Commodities revival drives up US stocks

Commodities revival drives up US stocks Topics: Commodities Stocks On Tuesday 10 May 2011, 4:12 SGT A revival in commodities prices pushed up US markets Monday as they shrugged off new turmoil in the eurozone after S&P's downgrade of Greece. The Dow Jones Industrial Average was up 46.01 points (0.36 percent) to 12,684.75 in closing trade. The broader S&P 500 gained 6.09 points (0.45 percent) at 1,346.29, while the tech-heavy Nasdaq Composite rose 15.69 points (0.55 percent) to 2,843.25. The markets got a boost from a six percent rise in crude oil prices and a 1.5 percent rise in gold, after both plunged last week together with a host of other commodities popular with speculators. Oil and gas companies and miners were mostly higher, and commodity funds, especially for silver, were some of the heaviest traded shares.

Full article: http://sg.finance.yahoo.com/news/Commodities-revival-driv...

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