Dec. 14 (Bloomberg) -- Stocks rose as Abu Dhabi bailed out Dubai’s Nakheel PJSC and Exxon Mobil Corp. agreed to buy XTO Energy Inc. for $31 billion. The cost to protect U.S. corporate bonds from default fell to a 12-week low, while the dollar slipped and oil and Treasuries were little changed.
The Standard & Poor’s 500 Index climbed 0.5 percent to 1,111.73 at 10:55 a.m. in New York for a fourth straight advance, its longest streak in a month. Dubai’s equity index jumped 10 percent, the most in 14 months. The dollar weakened against 10 of 16 major currencies tracked by Bloomberg, while the euro strengthened against the dollar and pound as concern eased that Europe’s biggest banks will write down Dubai loans.
The Standard & Poor’s 500 Index climbed 0.5 percent to 1,111.73 at 10:55 a.m. in New York for a fourth straight advance, its longest streak in a month. Dubai’s equity index jumped 10 percent, the most in 14 months. The dollar weakened against 10 of 16 major currencies tracked by Bloomberg, while the euro strengthened against the dollar and pound as concern eased that Europe’s biggest banks will write down Dubai loans.
Sorry I'm not contributing anything useful but I don't feel very useful. lol
