14 Mar 2009

Wall Street extends rally to fourth day

10:41 am on 14 March 2009

Wall Street stocks rose on Friday to extend the market's winning streak to four days as investors appeared upbeat about prospects for an end to a grinding bear market.

The Dow Jones Industrial Average rose 50.89 points, or 0.71% to 7,220.95 at the close of a choppy session, adding to gains of more than 600 points in the prior three days for blue chips.

The tech-heavy Nasdaq added 5.40 points, or 0.38%, to 1,431.50 and the broad-market Standard & Poor's 500 index increased 5.37 points, or 0.72% to a preliminary close of 756.11.

Wall Street was coming off a strong rally on Thursday, capping gains of more than 10% for the main indexes, amid optimism that the worst may be over for the financial sector and possibly the economy.