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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> NEW YORK (AP) — Stocks are rising after Tropical Storm Irene wound up being less severe than many analysts had anticipated.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> The storm ripped through the East Coast and caused widespread flooding. Millions were still without power. However, a consulting firm predicted that insured damages would range between $2 billion and $3 billion, lower than initially estimated.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> The New York Stock Exchange and other major U.S. exchanges opened for trading as usual Monday.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> Shortly after the opening bell, the Dow Jones industrial average is up 170 points, or 1.5 percent, at 11,455. The S&P 500 is up 20, or 1.6 percent, at 1,197. The Nasdaq is up 42, or 1.7 percent, at 2,521.
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“font-family: Arial, Helvetica, sans-serif; font-size: 13px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px;”> Greek stocks jumped 15 percent after two major banks agreed to merge to better withstand that nation’s debt crisis.
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