Friday, July 13, 2007

Banner Day for The Dow!

Dow surges 284 points, closing above 13,800 for first time, on aluminum merger, upbeat retail sales numbers.

NEW YORK (CNNMoney.com) -- The Dow soared about 280 points to a record close Thursday, posting its biggest gain in nearly 5 years, on a flurry of takeover activity and some upbeat retail sales numbers.

The Dow (up 283.86 to 13,861.73) surged nearly 284 points, or 2.1 percent, its biggest one-day point gain since October 15, 2002, when the Dow climbed more than 378 points.

So far this year, the Dow is up 11.2 percent.

The broader S&P 500 (up 28.94 to 1,547.70) also finished in record territory after climbing 1.9 percent, eclipsing its prior record hit June 4.

The tech-laden Nasdaq (up 49.94 to 2,701.73) followed, soaring about 1.9 percent on the day.

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