Economy
CLOSING BELL: June 6: DOW: 12,414.79| UP 286.84 | +2.37%
OIL: $85.02, UP .31, +0.87%
GOLD: $1,634.20, UP 17.30, +1.07%
GASOLINE (US Avg): $3.565, -.001%
U.S. Stocks Cap Biggest Rally in 2012 on Stimulus Bets
U.S. stocks rallied, giving benchmark indexes their biggest gains in 2012, on speculation global policy makers will take steps to stimulate economic growth.
The Standard & Poor’s 500 Index rose 2.3 percent to 1,315.04 at 4 p.m. New York time, the most on a closing basis since December. The gauge rallied 2.9 percent in three days.
“People are viewing central banks as very aware of the weakness of the global economy and looking for ways to deal with that,” said Michael Holland, chairman and founder of New York-based Holland & Co. His firm oversees more than $4 billion.“We’ve had a major selloff, valuations are low and that helps to lift the market on a day like today.”
