Optimism Drives Rise In Stocks --- Dow Jones Industrials Rally by 172.92 Points On Hopes for Economy
U.S. stocks surged as investors focused on hopes for an economic and corporate upturn, rather than on news of more anthrax exposure in Washington.</br></br>The major indexes once again finished the day close to their highest points since the Sept. 11 terrorist attacks.</br></br>"People are kind of adopting a stiff upper lip here, like the British in World War II," said stock trader Michael Driscoll at Credit Suisse First Boston. "They are focusing on the future and not looking at the past or the present. People are looking out six to 12 months and thinking that they don't see anything that will get a lot worse."</br></br>Technology stocks led the gains, with the Nasdaq Composite Index rising 2.2%, or 36.77 points, to 1708.08, just above its close of 1695.38 on Sept. 10, the day before the terrorist attacks. The index is almost back to the Oct. 16 level of 1722.07, the highest mark since last month's attacks.</br></br>Older industrial stocks in the Dow Jones Industrial Average also put in strong gains, as did bank stocks. The Dow industrials advanced 1.88%, or 172.92 points, to 9377.03. That still is more than 200 points below the industrial average's Sept. 10 close of 9605.51, although it is close to the average's highest post-attack close, 9410.45, on Oct. 11.