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NEW YORK -- The bulls prevailed on Wall Street today as bargain hunting and some strong retail reports enticed buyers back to the markets after nearly a week of declines. Dow gains 164;
Nasdaq up 171.55Associated Press
The spending spree gave blue chips and technology stocks their first rally in nearly a week, even as the Democrats and Republicans again clashed over the undecided presidential election.
The Dow Jones industrial average closed up 163.81, or 1.6 percent, at 10,681.06.
The Nasdaq composite index rose 171.55 to 3,138.27, a 5.8 percent increase, a day after closing below 3,000 for the first time in more than a year. The Standard & Poor's 500 rose 31.69, or 2.6 percent, to 1,382.95.
Advancers led decliners nearly 2-to-1 with 1,838 up, 972 down and 497 unchanged on the New York Stock Exchange, where volume came to more than 1.11 billion shares vs. 1.11 billion yesterday.
The NYSE composite index rose 9.47 to 648.52; the American Stock Exchange index gained 9.17 to 899.37; and the Russell 2000 index rose 10.36 to 486.91.
The 10-year Treasury note's price was up 3/32 point, or 94 cents per $1,000 in face value; its yield fell to 5.75 percent from 5.76 percent late yesterday. The 30-year bonds gained 11/32 point and yielded 5.81 percent, down from 5.83 percent late yesterday.
Blue chips also moved higher, led by retailer Wal-Mart, which rose $1.38 to $46.88 after reporting third-quarter earnings and revenues ahead of the same period a year ago.