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Stocks Roll Up On Heavy Trade
1 The Nasdaq jumped 2% as volume soared past 2 bil. The tech-heavy index is just 0.7% off its Jan. '04 peak. Data storage, chip, networking and consumer stocks led. The small-cap S&P 600 and mid-cap 400 both rose 1.3% to all-time highs. The S&P 500 gained 1.5%. NYSE volume surged. Airlines rallied. Oils tanked. More on this page, B2
Crude Crashes On Inventory Rise
2Jan. oil dived $3.64, the biggest drop in 3 years, to $45.49 a barrel, an 11-week low. U.S. distillate inventories rose by 2.3 mil barrels last week. Heating oil supplies also rose, easing winter fuel fears. Gasoline stocks rose sharply and crude by 900,000 barrels, a 10th straight gain. Heating oil, gasoline and natgas futures fell. China confirmed it'll create a strategic reserve. More on this page
Key Sunni Backs Iraq Vote In Jan.
3President Ghazi al-Yawer, who's influential with Sunni tribal leaders, said Iraq has a "legal and moral" duty to hold a vote on time. Sunni support could be key to building acceptance of a new gov't, but some groups want the vote delayed. The U.S. is boosting Iraq troops by 12,000 to bolster election security. Iraq's neighbors pledged to help control its borders and block terror funding.
Ukraine Deal Is Set; PM Sacked