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The Honolulu Advertiser
Posted on: Wednesday, August 26, 2009

Markets continue upward movement


Associated Press

NEW YORK — A rebound in consumer confidence and more healing in the housing industry have put stocks back on an upward path.

Banks, retailers and homebuilders were yesterday's biggest winners, helping to lift the major indexes about 0.3 percent. Energy and utility stocks fell sharply, and limited the overall market's advance, as oil prices cooled following a recent surge.

Though investors were pleased by better-than-expected readings on consumers and housing, trading was choppy, as it has been over the past week. Investors are questioning how much further Wall Street's five-month rally can go without evidence of actual economic growth.