NEW YORK: Stocks edged ahead yesterday to extend a seven-week rally in blue-chips as investors keyed in on housing data that beat expectations, even as shares of managed healthcare weighed after a ratings cut on the group.
Dow Jones Industrial Average: 8,849 (+45)
Stocks swung between gains and losses for much of the session amid lingering worries about a possible US attack on Iraq and ahead of economic reports this week that may provide fresh signs the economic recovery is on firmer ground.
Shares of Advanced Micro Devices (AMD), the number two chipmaker, jumped more than 16 per cent after Intel said it planned to raise flash memory prices. AMD was the most active issue on the New York Stock Exchange.
The Dow Jones Industrial Average at the close was up 45 points, or 0.5 per cent, at 8,849, according to the latest figures. The blue-chip Dow has gained more than 21 per cent since touching a five-year low on October 9th.
The broader Standard & Poor's 500 Index was up 2 points, or 0.25 per cent, at 933, after rising more than 1 per cent earlier in the session.
The technology-laced Nasdaq Composite Index was up 13 points, or 0.9 per cent, at 1,482.
