US stocks climb on oil, gold hikes

September 9th, 2009 - 5:20 am ICT by IANS  

New York, Sep 9 (DPA) Major Wall Street indices gained Tuesday as price increases for oil and metals including gold fuelled a rally in commodity and energy shares.
The dollar hit a 2009 low against the euro, helping the commodity price hikes. The US currency dropped to 69.03 euro cents and 92.31 Japanese yen.

The price of crude oil climbed 4.5 percent to $71.1 per barrel, and gold futures climbed above $1,000 per ounce. Copper jumped more than three percent.

Shares of Alcoa, Chevron and Exxon Mobil climbed more than two percent.

The blue-chip Dow Jones Industrial Average climbed 56.07 points, or 0.59 percent, to 9,497.34. The broader Standard and Poor’s 500 Index was up 8.99 points, or 0.88 percent, to 1,025.39. The technology-heavy Nasdaq Composite Index rose 18.99 points, or 0.94 percent, to 2,037.77.

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