Wall Street stocks surge more than 11%; Dow gains 936!!!!!!!!By Matt Krantz, USA TODAY
Stocks enjoyed a much-needed rally Monday with the Dow Jones industrial average soaring more than 900 points on optimism governments around the world can stabilize the financial system.The Dow, Nasdaq composite index and Standard & Poor's 500 indexes all soared more than 11% as investors hoped the many efforts by central banks to strengthen banks would begin to kick in. The rally in U.S. stocks snapped an eight-day sell-off and comes after strong showings in Asian and European markets as investors applauded the move toward a global coordinated response to the financial crisis. The rally also comes just as investors' nerves were seriously worn down by what had been the worst week for stocks in history. Last week, the Dow fell 1874 points, or 18.2%, the deepest loss in a one-week period in history. Much of the rally came from strength in the financial and materials stocks.At the closing bell, the Dow Jones industrial average rose 936.42, or 11.08%, to 9,387.61. It was the Dow's largest-ever point gain ever. Read the story here.
Other Markets did even better:
Other Markets did even better:
- NASDAQ: +11.81%
- S&P 500: +11.58%
- DOW Utilities: +14.18%
- DJ Wilshire 5000: +11.40%
- AMEX Composites: +13.30%
4 comments:
I've heard this is making the Dims really nervous, they're calling an emergency meeting for tomorrow morning.
We knew it would happen eventually because America always bounces back, but this is sooner than I thought it would happen! We'll continue to watch and wait. Time will tell.
Not on this topic exactly but it occurred to me tonight Obama seems like a good person but isn't, whereas McCain is a good person who may not come across like that because of his occasional brashness.
Skin deep, my friends.
Hope this trend continues --but these HUGE one day swings, wither way, are scary!!!
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