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US stocks extend advance in year's final session

US stocks extend advance in year's final session

Wall Street has had a merciful end to a dreadful year as stocks closed the last session of 2008 with a moderate advance. The Dow Jones industrials are up 108 points at 8,776 _ but have plunged nearly 34 percent over the course of the year.
Investors took some comfort Wednesday from the Labor Department's report of a sharp drop in weekly unemployment claims. But many traders were out of the market, on vacation or having closed their books for the year.
Analysts said many investors were looking forward to the start of 2009. Still, there are many unknowns about the U.S. economy that could make Wall Street's recovery from a terrible 2008 a difficult one.


Updated : 2020-12-05 08:35 GMT+08:00