Money World economy
The stock market is picking up where it left off before its scare over debt problems in Dubai.
Major stock indicators rose more than 1 percent Tuesday, including the Dow Jones industrial average, which jumped 126 points and traded above 10,500 for the first time since October of last year.
The weakening dollar again boosted stocks, a pattern that has played out for months. The cheaper U.S. currency drove up commodities prices and lifted the stocks of energy and materials companies that produce them.
Analysts said a mostly upbeat array of economic reports and easing worries about the fallout from debt struggles in Dubai gave investors who had jumped out of the market last week reason to return.
The Dow rose 126.74, or 1.2 percent, to 10,471.58, its highest close since October last year. The broader Standard & Poor's 500 index gained 13.23, or 1.2 percent, to 1,108.86, while the Nasdaq composite index rose 31.21, or 1.5 percent, to 2,175.81.
The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, fell 0.5 percent.
Crude oil rose $1.09 to settle at $78.37 per barrel on the New York Mercantile Exchange.
