Stocks Rally on Economic News

Investors cheered a jump in durable goods orders and a rise in new home sales, along with the Fed's commitment to easing the credit crunch

Good news on the economy helped investors put aside concerns about the wobbly credit and mortgage markets and keep them in a buying mood. It was a typical lazy summer day, with only about 1.2 billion shares changing hands. Friday may have been the lightest volume day since late May, CNBC Business News said.

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