Stocks Close At Highest Level Since July

Wednesday brought some hope for stock market traders as the economy continues to slowly head towards recovery.

The Standard & Poor's 500 index finished up 14 points at 1,308. That's the first close above 1,300 since July 28. The Dow Jones industrial average added 97 points to end at 12,579, the highest since July 25.

The market got a large push due to reports that the International Monetary Fund may get more cash to help countries struggling to manage their debt.

A strong report on the housing market and a surge with banking and technology stocks also contributed to the high closing.

Rising stocks outnumbered falling ones four-to-one on the New York Stock Exchange. Although, volume was slightly below average at 4 billion shares.


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