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Market Rally Yields New Highs
1 The major indexes surged in heavy trade. The Nasdaq jumped 2%, the Dow 1.3%, the S&P 500 1.2%, all three hitting 52-week highs. The small-cap S&P 600 rose 1.1%. Nasdaq volume hit its highest level since June. Breakouts were abundant in the broad rally, as Internets, chips, steel, metals and retail stocks all fared well. More on this page, B2
Commodities At 15 1/2-Year High
2The Commodity Research Bureau's futures index jumped 2.1% to its highest level since '88. Copper hit a 6 1/2-year high as expansions in the U.S., China and elsewhere deplete stockpiles of base metals needed for construction and consumer goods. Also, cold weather forecasts drove crude oil up $1.26 to $33.78 a barrel, the highest close since March 17. More on B13
Auto Sales Fall, But Top Outlook
3U.S. sales fell 4% at Ford, 9% at General Motors and 3% at Honda in Dec. vs. a superincentive-driven Dec. '02. Many drops were less than expected and prompted analysts to up industry estimates. Daimler Chrysler's Chrysler sales rose 2%. Rising truck sales softened declining car sales. Detroit's Big 3 had lower 2003 sales, while foreign rivals gained ground. More on A9
U.S. Visitors Face More Scrutiny