NEW YORK: Just as things were starting to look bleak on Wall Street, the stock market broke out of its torpor and surged to fresh multi-year highs.
In the best week of the year for the overall market, the blue-chip Dow Jones Industrial Average climbed 1.84% to 11,279.65 and the broad-market Standard and Poor’s 500 index added 2.0% to 1,307.25. Both indexes reached their highest levels since May 2001.
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