The Dow Jones industrial average closed above 900 last week for the first time in over a year. The average was propelled to 925.13, up 41.66 points for the week, as investors stocked up on blue chip stocks.
The market's surge came in spite of rumors that several Latin American countries would ask the International Monetary Fund for help in rescheduling their debts when the IMF meets in Toronto this week. As tensions increased in the international financial markets, the price of gold soared, gaining $48 per troy ounce for the week.
Gold stocks, computer issues, utilities, and blue chips were the best performers last week.