Newspaper article St Louis Post-Dispatch (MO)

Stocks Soar as Profit Picture Brightens

Newspaper article St Louis Post-Dispatch (MO)

Stocks Soar as Profit Picture Brightens

Article excerpt

Stocks soared Monday, driving the Dow Jones industrial average to an all-time high. Enthusiasm spread that the economy is expanding fast enough to heat up corporate profits.

Shares of paper, aluminum and retail companies gained the most, reflecting confidence in the economy's resurgence. The Dow industrial average jumped 98.63 to 5683.60, its eighteenth record this year, while the Standard & Poor's 500 index posted its biggest one-day gain since May 31.

A report showing passenger traffic for nine major airlines climbed 10 percent last month helped push the companies' stocks higher. Gains in the airline group, coupled with an advance in railroad stocks helped push the Dow Jones transportation average to a record 2184.75, up 49.46.

Rising employment and industrial production in recent weeks confirmed investors' optimism that profit growth will be strong enough to justify higher stock prices.

While only the Dow industrials set a record, the S&P 500 added 11. …

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