US stocks rose on Wednesday, led by a rally in financial shares, after surprisingly strong data on durable goods orders soothed some concern about the economy. Energy shares also gained with oil, which rose for the third straight day on fears that Tropical Storm Gustav could interrupt oil and natural gas output in the Gulf of Mexico.
Boeing Co added more than 2 percent after the Commerce Department said a 28 percent rise in orders for civilian aircraft helped drive up demand for expensive manufactured items in July. Home finance companies Fannie Mae and Freddie Mac led financials higher, rising for a third straight day as a lack of government intervention eased shareholder concerns that their investment would be wiped out.
An index of financial shares was up 1.2 percent. The Dow Jones industrial average was up 104.30 points, or 0.91 percent, at 11,517.17. The Standard & Poor's 500 Index was up 10.23 points, or 0.80 percent, at 1,281.74. The Nasdaq Composite Index was up 25.72 points, or 1.09 percent, at 2,387.69.
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