NEW YORK Wall Street rallied on Monday, with the Nasdaq Composite up 2 percent, as investors were encouraged by the early tone in talks to tackle the U.S. fiscal crunch and by data that showed an advance in the housing sector's recovery.
The Dow Jones industrial average rose 175.82 points, or 1.40 percent, to 12,764.13. The S&P 500 Index gained 23.74 points, or 1.75 percent, to 1,383.62. The Nasdaq Composite added 56.70 points, or 1.99 percent, to 2,909.83.
(Editing by Dan Grebler)
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India's government and businesses are pushing for an interest rate cut next week even though data on Friday may show output is expanding faster than China's, in the latest sign of concerns that the figures are masking weaknesses in the economy. Full Article