US STOCKS-Dow ends best 6 weeks since 1938 on economic hopes

Fri Apr 17, 2009 10:59pm BST
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* Market rises on consumer survey, profit optimism

* Citi, GE post better-than-expected results

* Dow up 0.1 pct; S&P 500 up 0.5 pct; Nasdaq up 0.2 pct

* For up-to-the-minute market news click [STXNEWS/US] (Updates lead with Dow's performance, adds volume in last two paragraphs)

By Ellis Mnyandu

NEW YORK, April 17 (Reuters) - U.S. stocks rose on Friday, with the Dow scoring its biggest six-week gain since July 1938, helped by a reassuring report on the mood of consumers and stabilization in General Electric (GE.N: Quote, Profile, Research) and Citigroup's (C.N: Quote, Profile, Research) quarterly results.

The Dow is up 22.7 percent over the past six weeks, making this the largest six-week gain since July 29, 1938.

Friday's close also marked the S&P 500's longest weekly winning streak since 2007.

The Reuters/University of Michigan survey showed that U.S. consumers have more confidence in the economy than they have had since the sudden collapse of Lehman Brothers in September, the latest in a spate of data suggesting the economic slump may be easing. For more details, see [ID:nN17323537]  Continued...

 
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