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March 06, 2007

US Markets: We Would Call Foreign Markets "Faggots," But Then We'd Have To Go To Rehab

Not bad:

Wall Street rebounded Tuesday as investors were encouraged by a recovery on world markets and moved to recoup some of the big losses suffered in last week's sharp pullback. The Dow Jones industrials rose more than 150 points.

Investors came off the sidelines to buy stocks that have languished in five turbulent sessions. The Dow made back about 26 percent of the ground it lost over the past week, and scored its highest one-day point gain since July 24.

Many analysts are still worried, though, that the worldwide correction isn't quite done correction.

Still, the current consensus seems to be: storm weathered. Need to re-reroof the barn.


According to preliminary calculations, the Dow rose 157.18, or 1.30 percent, to 12,207.59, after dropping 581 points over the past week. The Standard & Poor's 500 index was up 21.29, or 1.55 percent, at 1,395.41 in its biggest advance since July.

The Nasdaq composite index rose 44.46, or 1.90 percent, to 2,385.14. The tech-dominated index, which includes many companies consider young and risky compared to S&P 500 stocks, was particularly hard-hit in last week's slide. It was the best one-day advance since Oct. 4.

The Russell 2000 index of smaller companies was up 18.82, or 2.48 percent, at 778.88.

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posted by Ace at 05:46 PM

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