Investors relieved by the relatively minimal impact of Hurricane-turned-Tropical Storm Irene pushed stocks higher Monday as the Dow Jones Industrial average stormed up 254.71 points to close at 11,539.25.
The rally was led by major insurance firms who are now projecting total damages paid in the range of $2 billion to $3 billion following Irene – far less than the $6 billion-plus they paid out in the aftermath of Hurricane Isabel in 2003.
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