U.S. Stocks Rebound from Three-month Lows


U.S. stocks rose, rebounding from three-month lows, after record oil prices boosted energy companies and Credit Suisse Group said shares of Google Inc. may reach $900 in the coming year.

Exxon Mobil Corp., the biggest U.S. energy producer, climbed the most in five years. Google rallied after Credit Suisse said the most-popular search engine will expand its share of the mobile advertising market. Stocks swung throughout the day, with the Dow Jones Industrial Average falling to a seven- month low after the Federal Reserve lowered its 2008 growth outlook and rebounding when Countrywide Financial Corp. denied speculation it faces a funding shortage.

The Standard & Poor's 500 Index added 6.43, or 0.5 percent, to 1,439.7. The Dow rose 51.7, or 0.4 percent, to 13,010.14. The Nasdaq Composite Index increased 3.43, or 0.1 percent, to 2,596.81. Slightly more than one stock gained for every one that fell on the New York Stock Exchange.

Financial companies were the only group to finish lower among 10 industries in the S&P 500 after Freddie Mac posted a wider-than-expected loss and said it may cut its dividend. Today's 1.3 percent decline in the S&P 500 Financials Index pushed the 93-stock gauge's loss to 21 percent in 2007.


TradingEconomics.com, Bloomberg
11/20/2007 3:05:14 PM