Dow rallies 1 percent
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Dow rallies 1 percent
Blue chips are off to a robust start this Thursday. General Motors was upgraded to a buy at Citigroup. McDonald's is trading at an all-time high. The Fast Food giant boosted its annual dividend by 50 percent. And ExxonMobil is looking strong as oil prices trade around $80 a barrel for the second day in a row. Countrywide Financial is getting another life-line. The biggest American home lender has secured an additional $12 billion in borrowing capacity. Last month, Bank of America provided $2 billion in funding. Investors are pushing the stock sharply higher. And a weaker-than-expected jobless claims report is providing more comfort. Fewer Americans lined up for unemployment benefits last week, suggesting the labor market may not be as bad as indicated in last month's jobs data. For Reuters, I'm Conway Gittens in New York COMPANIES MENTIONED: SYMBOLS:
Submission | September 13, 2007
