NEW YORK — Investors dove into stocks Thursday, extending a rally that gave the Dow Jones industrial average its best four weeks since 1933.
Stocks rose across the board in heavy trading after an accounting rule change that will help banks and commitments from world leaders to toughen up regulatory oversight of financial institutions.
The Dow is now up 20.4 percent over the last month, its biggest percentage gain in a four-week period since the spring of 1933. Bits of good news about the economy in recent weeks, including better-than expected-numbers on the housing and manufacturing sectors, have given investors reasons to buy.
Industrial and consumer discretionary stocks picked up speed Thursday while demand for safe-haven assets like gold, Treasurys and the dollar plummeted.
“Everyone is in a buying mood,” said Eric Ross, director of research at brokerage Canaccord Adams. “Everyone is feeling good.”