Stocks Soar as Oil Plunges
Stocks Soar as Oil Plunges August 9th, 2008 BUSINESSWEEK - Market Snapshot August 8, 2008, 5:21PM EST Major U.S. stock staged a huge rally Friday to cap a wild week of trading. Traders ignored a larger than expected loss from mortgage finance giant Fannie Mae (FNM), focusing instead on a fresh plunge in crude oil prices and a big move higher for the U.S. dollar. On Friday, the Dow Jones industrial average rose 302.89 points, or 2.65%, to 11,734.32. The broader S&P 500 index added 30.25
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