Monday, 26 October 2009

New York

New York - US stocks rose sharply Friday, capping a positive week of economic and housing sector news, while the price of oil briefly reached a new high for the year.

its highest level of the year and the Standard and Poor's 500 Index reached its highest point since October.

Home resales surged an unexpected 7.2 per cent in July according to the National Association of Realtors, the best monthly gain in 10 years and a sign that the housing crisis which kicked off the wider recession is ending.

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