Dow Jones Closes with Largest Gap Increase Against Nasdaq Since 2002
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[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed strong as hopes for a COVID-19 vaccine revived.
On the 13th (local time), the Dow Jones Industrial Average rose 399.64 points (1.37%) to close at 29,479.81, the S&P 500 index increased 48.14 points (1.36%) to 3,585.15, and the Nasdaq index gained 119.70 points (1.02%) to finish at 11,829.29.
The weekly gains were 4% for the Dow, 2% for the S&P 500, while the Nasdaq fell about 0.5%.
According to the Wall Street Journal, this is the first time since 2002 that the Dow has outperformed the Nasdaq by such a wide margin on a weekly basis.
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December delivery West Texas Intermediate (WTI) crude oil closed down 2.4% ($0.99) at $40.13 per barrel. December delivery gold closed down 0.7% ($12.90) at $1,886.20 per ounce.
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