Bargain-hunters send industrial higher

The Dow Jones industrials rose on Wall Street yesterday as bargain hunters grabbed shares at reduced prices following last week's big selloff.

The Dow Jones industrial average rose 176.53, or 1.79 per cent, to 10,038.65, climbing above the 10,000 mark it fell below on Friday for the first time in more than 10 months.

The Nasdaq composite index, which fell as much as 124 points earlier, finished the day only slightly lower, slipping 12.61 points to 4557.89.

The Standard & Poor's 500 rose 17.07 to 1,350.43. Advancing issues outnumbered decliners by a narrow margin on the New York Stock Exchange, with 1,496 up, 1,478 down and 523 unchanged.

The Russell 2000 index of smaller companies fell 0.23 to 556.51.