Stocks rose yesterday, following a post-Thanksgiving holiday tradition, in a shortened session that saw the thinnest volume this year. The Dow Jones industrial average gained 28.35 points, or 0.36 per cent, to close at 7,823.13. The Standard & Poor's 500 Index ended up 3.76 at 955.40.
In the broader market, advancers outnumbered decliners 1,660 to 1,031 on volume of 189 million shares on the New York Stock Exchange.
"The market is still recouping from the overreaction to the Asian crisis," said Mr Robert Froehlich, chief investment strategist at Kemper Funds.
South Korea's woes were being closely watched, however, analysts said. Stocks in Seoul shed over 4 per cent of their value yesterday.
Takeover fever emerged once again in the telecommunications sector.
Takeover rumours also continued to ripple through the financial sector, with Deposit Guaranty soaring amid speculation that it might by acquired by another bank.
