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THE REAL MOST ACTIVE Broad Rally Propels Dow, S&P To Strong Gains.(MAKING MONEY)
Byline: JONAH KERI
NYSE stocks joined a broad rally Friday, notching strong gains.
The Dow gained 1.1%, the S&P 500 1.5%, the small-cap S&P 600 2%. NYSE volume finished lower than Thursday's level, thanks largely to much lower volume in Dow component Merck. But volume still closed above average and at its highest level since July 27.
Oil closed above $50 a barrel for the first time, though that failed to dent the market. Meanwhile, oil-related stocks continued to reap the benefits of high prices.
Eni Spa climbed 2.50 to 114.80 on nearly three times its normal trade. At the G-7 and International Monetary Fund meetings, the Italian Economy Minister told reporters the Italian government had no plans to cut its stake in the petrochemicals and oil field services firm below 30%. Eni had previously fretted that such a move could make the company a takeover target.
Oceaneering International advanced 1.93 to 38.77 in brisk volume. The provider of underwater drilling support to ...
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