Monday, November 24, 2008

Dow Goes Skyward to The Tune of 396.97 Points

The Dow swung skyward today ending the day up 396.97 points. Most say the move was based on the bailout of Citi Bank. While that may sound good, it is tomorrow I am worried about. Only once during the course of this crisis was the day after an up from a bailout another up day. Hopefully tomorrow will make two. For now, lets focus on the good news. Last week we had the largest two day fall in the Dow since 1987. Friday and today combine for the largest two day increase since 1987. The three main American indexes (Dow, Nasdaq, and S&P 500) increase between just under 5% to 6.5%. A good day for the market, and the second one in a row (referring to Friday).

"The S&P 500 surged 6.5 percent to 851.81, capping a two-day gain of more than 13 percent. The Dow Jones Industrial Average climbed 396.97 points, or 4.9 percent, to 8,443.39. The Nasdaq Composite rose 6.3 percent to 1,472.02. Europe’s Dow Jones Stoxx 600 climbed 8.4 percent, while the MSCI Asia Pacific Index slipped 0.7 percent."

1 comment:

  1. I have to that I agree with you on this one. I am sick and tired of the bail outs. When did the American people have to pay for other's mistakes?


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