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U.S. Shares Rise; Key Economic Data Ahead

    NEW YORK, Dec. 1 /PRNewswire/ -- U.S. share prices mostly posted
gains Wednesday amid rotation into blue chips, though sentiment was
restrained pending the employment report on Friday, Market News
International reported.
    The Dow Industrials rose 120.58 to 10,998.39, on moderate New
York Stock Exchange volume of 881 million shares.
    Among other measures, the S&P 500 rose 8.81 to 1397.72, the
Nasdaq composite gained 17.55 to 3,353.71, and the Russell 2000 lost
0.99 to 453.09.
    Dealers said uncertainty pending Friday's employment report kept
a lid on the market. Analysts expect non-farm payroll to have risen
200,000 in November, with any stronger gains or a sharp rise in wages
likely to spark Federal Reserve rate hike fears.
    The National Association of Purchasing Management reported
continued strength in the manufacturing sector and a dip in price
pressures, leading to a modest uptick in bonds and helping set the
foundation for the day's gains in stocks.
    Yahoo! jumped 10 1/8 to 228 7/8 after being added to the S&P
500, replacing Laidlaw, a transportation manufacturer. Laidlaw lost
9/16 to 5 9/16.
    McDonald's rose 7/8 to 46 5/8 after agreeing to acquire Boston
Market and its 751 restaurants and additional franchise rights for
$173.5 million. The deal is part of Boston Chicken's bankruptcy
reorganization.


SOURCE Market News International




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Nikki Baldwin of Market News, email:
nbaldwin(at)mktnews.com
NOTE TO EDITORS: Market commentary from Market News International
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