Dow Up 31 as Investors Go on Shopping Spree
NEW YORK, Dec. 5ÛÓStock prices advanced broadly today as investors, responding to the marketÛªs resilience in recent sessions, put aside their worries about rising interest rates.</br></br>The Dow Jones average of 30 industrial stocks rose 31.48, to 2123.76. Advancing issues outnumbered declines by about 12 to 7 in nationwide trading of New York Stock Exchange-listed stocks.</br></br>Volume on the floor of the NYSE came to 144.6 million shares, up from 124.6 million in the previous session. Nationwide, consolidated volume in NYSE-listed issues, including trading, at regional exchanges and on the over-the-counter market, totaled 185.9 million shares.</br></br>Analysts said there was no specific news to spark todayÛªs rally, but that the marketÛªs recent losses were reason enough for many investors to go on a shopping spree.</br></br>Û÷Û÷TheyÛªre looking for an excuse to get back in,Û said Hugh Johnson, an analyst at First Albany Corp. ÛÏWhen it seems oversold, when it seems-like pessimism is lopsided, those who have been in the business instinctively want to get back in.Û "TheyÛªre looking for events that will serve as a catalyst to move the market on the upside,Û he said.