U.S. stocks closed higher for a fourth straight day on Wednesday, sending the Standard & Poor's 500 index to its best finish so far this year as industrial and technology companies gained from a weak dollar.
The dollar's fall to a 2009 low helped to make U.S. products more competitive in overseas markets. Industrials,
The Dow Jones industrial average (DJI:^DJI - News) was up 49.88 points, or 0.53 percent, at 9,547.22. The Standard & Poor's 500 Index (^SPX - News) gained 7.98 points, or 0.78 percent, at 1,033.37. The Nasdaq Composite Index (Nasdaq:^IXIC - News) rose 22.62 points, or 1.11 percent, at 2,060.39.
The dollar's fall pushed oil up, allowing U.S. crude to settle at $71.31 a barrel and helping gold to trade near $1,000 an ounce.
The Federal Reserve's Beige Book survey showed half of Federal Reserve districts saw evidence the U.S. economy had improved by the end of August, but labor markets remained weak and retail sales were flat overall.
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