Summary Box: Insurers drive stocks higher

AP News
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Posted: Aug 29, 2011 5:39 PM
Summary Box: Insurers drive stocks higher

INSURERS RALLY: Stocks rose broadly Monday, led by insurance companies, after it became clear that Tropical Storm Irene caused far less damage than many had feared. An increase in consumer spending and a rare bit of good news about Greece _ a merger between two major banks _ also helped.

LOW VOLUME: Trading volume, or the number of shares bought and sold, was the lowest since July 26 as many traders struggled to get to work in Lower Manhattan or were still on vacation.

THE INDEXES: The Dow Jones industrial average rose 254.71 points, or 2.3 percent, to 11,539.25. The Standard & Poor's 500 index rose 33.28 points, or 2.8 percent, to 1,210.08. The Nasdaq composite rose 82.26, or 3.3 percent, to 2,562.11.