Bankruptcy

Markets Soar, all is well?

By J. Michael McBride

Yesterday, the US markets, the Dow in particular soared, up 11% Here is an informative article on yesterday’s advance. It contains a great chart that shows the percentage up’s and down’s in the Dow since Oct. 13 of this year. “At about 2 p.m., the market exploded into one of its biggest rallies since World War II, with the Dow Jones industrial average closing up 889.35 points, or 10.9 percent, to 9,065.12. In the last 69 years, the Dow has gained that much on only one other day, and that was two weeks ago, on Oct. 13.

There was no single catalyst for the surge, and market special*ists said investors seemed to be coming around to the idea that stocks were worth buying, given that the Dow had plunged 32 percent since the end of August. Here is the link to that article:

http://www.nytimes.com/2008/10/29/business/29markets.html?em

Michael

Full post as published by Texas Lawyer Blog on October 29, 2008 (boomark / email).