Stocks jump after G-20 pledge to aid economies
NEW YORK -- Stocks are jumping to new highs for the year as the dollar slides, boosting prices for commodities including gold and oil.
Investors are also buying stocks Monday on growing confidence about the global economic recovery. News that the Group of 20 countries will keep stimulus measures in place signals interest rates will remain low.
Investors see the dollar as weaker than other currencies because of low U.S. interest rates. They're using it to finance purchases of investments in other countries. That weakens the dollar.
At midday, the Dow Jones industrials are up 150 at 10,174. That's 50 points above its previous 2009 high.
The Standard & Poor's 500 index is up 16 at 1,086. The Nasdaq composite index is up 30 at 2,142.