Tuesday, September 10, 2002

Investors wary of 9-11 anniversary

The Associated Press

        NEW YORK - Investors smarting from last week's Wall Street decline shopped for bargains Monday, sending stocks higher despite concerns about the 9-11 anniversary.

        The Dow Jones industrial average rose 92.18, or 1.1 percent, to 8,519.38, according to preliminary calculations. It fell 2.7 percent last week.

        Broader indicators were also higher. The Nasdaq composite index rose 9.31, or 0.72 percent, to 1,304.61 after last week's 1.5 percent decline. The Standard & Poor's 500 index was up 9.04, or 1.01 percent, at 902.96 following last week's loss of 2.4 percent.

        The Dow fell as much as 110 points Monday morning before recovering and turning higher. But volume was light, and experts said the rise was not an overall indication of renewed stock market strength.

        Some attributed the comeback to bargain hunting after a volatile last week, when the Dow alternated triple-digit winning days with triple-digit losing days.

        But investors remain wary about Wednesday's one-year anniversary of the terror attacks as well as a possible war with Iraq, analysts said.


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