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Closing Bell: 07.30.07

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Coming off Wall Street’s worst week in five years, stocks traded up today in spite of lingering credit concerns. Purchases in the financial sector increased confidence and drove up prices across the board.
All ten S&P sectors traded higher today. The Dow closed up 92.84 or .7% to 13,358.31; the Nasdaq Composite Index increased 21.04 or .82% to 2583.28; and the S&P 500 jumped 14.96 or 1.03% to 1473.91. However, with the long-term consequences of the new credit crisis still unknown, it’s hard to see this rebound as the end of summer market woes (although a plurality of Dealbreaker readers predict a “small comeback” for the week).
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