Source:
ReutersNEW YORK - U.S. stocks rose on Monday as investors bet that President-elect
Barack Obama's plan for major infrastructire investment would help avert a deeper
slump in the economy.
Shares of companies likely to be among the big beneficiaries of major construction
projects, including Cayerpillar Inc and chemical company DuPont, were standouts
along with shares of energy companies.
Investor sentitment also got a boost from signs that the Big Three automakers --
General Motors, Ford and Chrysler -- were closer to obtaining a government
financial lifeline to avert possible bankruptcy. GM jumped 13 percent and Ford
rose nearly 6 percent.
"With what Obama said at the weekend, that helped overseas markets and we're
seeing follow-through here in the U.S. as well," said Alan Lancz, president of
Alan B. Lancz & Associates Inc., an investment advisory firm in Toledo, Ohio.
"News of a strong stimulous is the reason you're seeing stocks of hard assets like
copper cement up."
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http://biz.yahoo.com/rb/081208/business_us_marlets_stocks.html?.v=9
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