Tulsa World: Wall Street indexes finish higher amid volatility

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Wall Street indexes finish higher amid volatility

By Staff and Wire Reports
Published: 11/3/2009 8:08 AM
Last Modified: 11/3/2009 8:08 AM

After months on hiatus, volatility is back on Wall Street.

Stocks ended higher Monday after another day of big swings. Stronger reports on manufacturing and housing gave the market an early boost, but a rise in the dollar and worries about the soundness of an eight-month rally chipped away at the gains.

Jittery traders have been pushing the market around in ways more reminiscent of the huge swings seen a year ago than the smoother advance that stocks have displayed since early spring. The Dow Jones industrial average has gained or lost more than 100 points in six out of the last seven days.

On Friday the Dow slumped nearly 250 points, more than erasing the 200-point gain from the day before.

"It's a flip of a coin right now," said Jeffrey Frankel, president of Stuart Frankel & Co. "You never know what you're going to get the next day when you come in to work."

On Monday, the Dow rose 76.71, or 0.8 percent, to 9,789.44.

The broader Standard & Poor's 500 index rose 6.69, or 0.7 percent, to 1,042.88.

The Nasdaq composite index, heavy in technology companies, rose 4.09, or 0.2 percent, to 2,049.20.

By Staff and Wire Reports

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