Wall St cheered by Summers exit

Dow posts triple-digit gains after Summers bows out of running to replace Ben Bernanke as Federal Reserve chairman.

United States stocks closed higher and the Dow industrials made a triple-digit advance on news that Lawrence Summers bowed out of the running to lead the Federal Reserve.

The Dow Jones Industrial Average climbed 118.72 points, or 0.8%, to 15494.78. On Friday, the Dow rose 75 points, or 0.5%, to cap the blue-chip index's best weekly performance since the week ended Jan. 4.

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