U.S. stocks rose Thursday despite a significant drop earlier in the day following the terrorist attacks on London, dpa reported. The London attacks on Thursday morning targeted subway trains and a bus, killing at least 37 people. The blue-chip Dow Jones Industrial Average was down nearly 100 points, or almost 1 per cent, shortly after U.S. markets opened, but it recovered later in the day. "The markets have reacted the way they often do under periods of great stress, initially dropping and then recovering," Edward Keon, chief investment strategist at Prudential Equity Group LLC in New York, told the Bloomberg financial news agency. Crude oil for August delivery reached a record high of 62.10 dollars a barrel, fuelled by concerns that Hurricane Dennis will disrupt oil production as it nears the Gulf of Mexico, but eventually settled at 60.73 dollars a barrel after the London attacks. The blue-chip Dow Jones Industrial Average rose 31.61 points, or 0.31 per cent, to 10,302.29. The broader Standard & Poor's 500 Index went up 2.93 points, or 0.25 per cent, to 1,197.87. The technology- heavy Nasdaq Composite Index increased 7.01 points, or 0.34 per cent, to 2,075.66. On currency markets, the dollar fell against the euro, closing at 83.714 euro cents from 83.808 euro cents on Wednesday. The U.S. currency inched down against the Japanese yen, dropping to 112.07 yen from 112.17 yen on Wednesday. Gold increased 1.70 dollars, closing at 425.20 dollars per fine ounce. --SP 0002 Local Time 2102 GMT
