US stocks extend 4-week rally; Dow breaches 8,000

By
April 3, 2009 01:17

Investors dived into stocks Thursday, extending a rally that gave the Dow Jones industrial average its best four weeks since 1933. Stocks rose across the board in heavy trading following an accounting rule change that will help banks and commitments from world leaders to toughen up regulatory oversight of financial institutions. The Dow Jones industrials broke through 8,000 for the first time since February 9 but ended slightly below that level ahead of a closely-watched monthly report on employment Friday morning that could easily upset the market if it comes in below expectations. Broader market indicators also rose sharply. The Standard & Poor's 500 index gained 23.30, or 2.9 percent, to 834.38. The Nasdaq composite index rose 51.03, or 3.3 percent, to 1,602.63.


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