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The Russell 2000 index of small-company stocks set another record high, gaining 10.35 points, or 1 percent, to 1,054.18.
Mohamed El-Erian, the chief executive of the investment firm Pimco, said in a blog post that the Summers move would be seen "as bullish for U.S. interest rate curve trades, duration more generally, and risk assets (including credit and equities)." The main Hong Kong stock index pushed ahead 1.5 percent, while Germany's DAX reached a new high, gaining 1.1 percent.
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I.B.M. was among the stocks leading the Dow industrials higher, gaining $6.80, to $106.50.
Intel led the Dow higher, gaining 81 cents, or 3.6 percent, to $23.44.
Bank of America was also higher, gaining 42 cents, or 4 percent, to $11.
Shares of Jabil were sharply higher, gaining more than 9%.
Shares of MJN were modestly higher, gaining 0.4% today.
Shares of Amazon were slightly higher, gaining 0.5%.
Shares of General Dynamcis were higher, gaining 2.4% so far.
Shares of Safeway were modestly higher, gaining 0.4% on Friday.
Oracle inched higher, gaining 16 cents, or 0.8%, to $20.34.
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