hr: Money

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Recently US stocks, in nearly two months, surged the most. This was led by both energy and retail companies, on speculation of an oil price increase to $5 per barrel and Wal-Mart Stores Inc. as well as Costco Wholesale Corp. sales that exceeded analysts’ forecasts.

The gains have made the Dow Jones Industrial Average gain up to 214 points and were responsible for the tremendous rise to its highest ever, since January 3, in Nasdaq Composite Index as it closed. Exxon Mobil Corp. has posted huge gains as it led energy shares to their highest leap counting from March boosted by a weaker dollar.

Wal-Mart is on a four-year high climb, while Costco, in 11 weeks in a row, realized huge gains.

Rallying the most in five years, Verizon Communications Inc. has become the largest mobile communications company in the United States after the firm’s wireless unit agreed to purchase Alltel Corp. in a $28.1 billion deal.

According to experts, despite the fact that the economic conditions look bleak, things aren’t really that bad, since there are still some glimmer of hopes as the market from time to time breathes a “sigh of relief.”