Wall Street explodes in historic one-day surge (Congress, economy, good news)
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NEW YORK - Wall Street exploded in a historic rally Monday, snapping back from last week’s devastating losses, with the Dow Jones industrial average chalking up its biggest-ever one-day point gain.
The massive gains came after major governments announced further steps to support the global banking system, including plans by the U.S. Treasury to buy stocks of some banks.
The hope on Wall Street was that the market was finding a bottom after eight sessions of devastating losses that sent the Dow down nearly 2,400 points. But while a rebound had been expected at some point, investors can expect to see back-and-forth trading in the coming days and weeks as investors work through their concerns about the banking sector, the stagnant credit markets and the overall economy.
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Originally Posted by HappyTexan
Ok..that put the Dow back to last Thursday..still have Mon-Tues-Wed of last week to make up.
Another great day tomorrow ?
Let's hope profit taking doesn't knock it right back down tomorrow. I'd like to see us go into next weekend with the Dow above $10,700 or so, just so things look sustainable.
The depth of monetary commitment by other countries does seem to be a hopeful sign. Can it possibly be that like it or not people are starting to realize that we're all in this together?
Let's hope profit taking doesn't knock it right back down tomorrow. I'd like to see us go into next weekend with the Dow above $10,700 or so, just so things look sustainable.
The depth of monetary commitment by other countries does seem to be a hopeful sign. Can it possibly be that like it or not people are starting to realize that we're all in this together?
Hey that's what the Exxon execs said when Congress asked them how they can live with themselves profiting obscenely as people drowned in NOLA. "We all in this together..."
I love that one.
That's like the rapist who tells his victim "believe me this hurts me more than it hurts you..."
I can palate that pathology. What I totally don't get is the dittoheads getting pumped at the pump by their man in full blown denial.
Haha!
They're all a bunch of Harry Whittingtons apologizing to CHeney as he shoots them in the face over and over and over ...
Shoot 'em one more time for me Dick!
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