NEW YORK, Aug. 22 (Xinhua) -- Wall Street soared Friday, as speculation grew that Lehman Brothers Holdings Inc. could be sold and oil tumbled more than six U.S. dollars.
Lehman rose five percent, after Korea Development Bank said it's considering an investment in the fourth largest U.S. securities firm. In addition, Federal Reserve Chairman Ben Bernanke said that inflation will ease late this year, which sent Bank of America, Citigroup and JPMorgan Chase higher.
Meanwhile, oil fell for the first time in four days. Light, sweet crude slipped 6.59 to 114.59 U.S. dollars per barrel on the New York Mercantile Exchange, as the U.S. dollar strengthened. Oil-sensitive stocks such as retailer, auto, builder and airline perked up.
The Dow Jones rose 197.85, or 1.73 percent, to 11,628.06. Broader indexes also traded higher. The Standard & Poor's 500 index rose 14.48, or 1.13 percent, to 1,292.20; and the Nasdaq climbed 34.33, or 1.44 percent, to 2,414.71.
