Gulag Blog

S&P 500 Climbs to 13-Month High as Commodities Rally on China

Mary Childs
Bloomberg
November 11, 2009

• A d v e r t i s e m e n t
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U.S. stocks extended a global advance, sending the Standard & Poor’s 500 Index to a 13-month high, and commodities rallied as China’s industrial production and Japan’s machinery orders increased. Gold jumped to a record.

Caterpillar Inc. and Home Depot Inc. led the Dow Jones Industrial Average above its highest close since October 2008. Barrick Gold Corp., the largest producer of bullion, and Alcoa Inc. climbed with metals prices. The MSCI Emerging Markets Index added 1.3 percent, boosting its six-day rally to 8 percent.

The S&P 500 rose 0.7 percent to 1,100.13 at 9:40 a.m. in New York, above its highest close since Oct. 2, 2008. The Dow climbed 51.62 points, or 0.5 percent, to 10,298.59. About six stocks gained for each that fell on the New York Stock Exchange.

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