Stocks Recover After Tough May

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NATIONAL

The Dow Jones Industrial Average rose 73.88 points to end the day at 11168.31, marking a strong end to a month that saw the Big Board lose 198.83 points, or 1.7% of its value, its biggest monthly loss since June 2005.

The blue chips recovered despite indications the Federal Reserve will seek to raise the federal-funds rate to 5.25% when it meets again next month. Minutes released from the Fed’s May 10 meeting during the day revealed the bank is more concerned about eliminating inflation that slowing growth.

The Standard & Poor’s 500-stock index also rebounded Wednesday adding 10.25 to finish at 1270.09; it was off 3.1% in May. The Nasdaq Composite Index gained 14.14 to 2178.88 after falling even more during the month – 6.2%.



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