Stocks Rise Modestly
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
(New York) AP – Stocks advanced tentatively Monday, as Wall Street still worried that a credit crunch will crimp U.S. growth, tried to piece together a recovery from last week’s steep losses.
Some strong earnings reports and merger-and-acquisition activity boosted the market, which is coming off the Dow Jones industrial average’s and Standard & Poor’s 500 index’s biggest weekly drops in five years. The Dow, now more than 5 percent below its record close of 14,000.41 reached July 19, has been caving under growing worries about a shakier lending climate.
