Market Update

OIL: Crude for March delivery rose 55 cents to $22.47 a barrel on the New York Mercantile Exchange.

DOW INDUSTRIALS: Stocks began the week with a bold rally as investors bet that the worst economic news is over. The Dow Jones industrial average rose 71.54 points to 2,902.23.

CREDIT MARKETS: Bond prices were mixed in light trading. The Treasury’s bellwether 30-year bond was down 1-16 point, or 63 cents per $1,000 in face amount.

METALS: Gold prices fell on New York’s Commodity Exchange to $367.10 an ounce, off $3.00.

CURRENCY: The dollar fell to a new postwar low against the German mark in domestic and European trading.