Author Topic: Dow Closes Up Nearly 400 Points  (Read 3540 times)

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Offline Wretched Excess

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Dow Closes Up Nearly 400 Points
« on: April 01, 2008, 03:47:54 PM »
Quote
Dow Closes Up Nearly 400 Points
Investors Cheered by Optimism That the Worst of the Credit Crisis Has Passed

NEW YORK (AP) -- Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3 percent.

Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from America's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

Analysts believe there must be a recovery in bank and brokerage stocks to lead major stock indexes higher. Some of the biggest financial players had their biggest moves of the year Tuesday -- Citigroup Inc. shot up 11 percent, JPMorgan Chase & Co. rose 9 percent, and Lehman surged 18 percent.

"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 -- indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

The Dow rose 391.47, or 3.19 percent, to 12,654.47.

More Here



hey, wait.  I thought we were doomed, DOOMED, DOOMED?

Offline Ralph Wiggum

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Re: Dow Closes Up Nearly 400 Points
« Reply #1 on: April 01, 2008, 03:51:59 PM »
Quote
Dow Closes Up Nearly 400 Points
Investors Cheered by Optimism That the Worst of the Credit Crisis Has Passed

NEW YORK (AP) -- Wall Street began the second quarter with a big rally Tuesday as investors rushed back into stocks, optimistic that the worst of the credit crisis has passed and that the economy is faring better than expected. The Dow Jones industrials surged nearly 400 points, and all the major indexes were up more than 3 percent.

Financial stocks were among the big winners after Lehman Brothers Holdings Inc. and Switzerland's UBS AG issued new shares to help bolster their balance sheets. With that upbeat news and a fresh quarter ahead of them, investors appear quite willing to make some bets that the worst of the damage from America's credit struggles has been felt. Moreover, the banks' moves buttressed the view that financial services companies are taking aggressive action to improve their capital bases and stave off the potential of a collapse similar to Bear Stearns Cos.

Analysts believe there must be a recovery in bank and brokerage stocks to lead major stock indexes higher. Some of the biggest financial players had their biggest moves of the year Tuesday -- Citigroup Inc. shot up 11 percent, JPMorgan Chase & Co. rose 9 percent, and Lehman surged 18 percent.

"Investors have a difficult time making decisions about the stock market if they don't have confidence in major financial institutions, so there's been a lot of sideline cash," said Richard Cripps, chief market strategist for Stifel Nicolaus. "The extreme conditions that we've seen here over the past few months has been missing that confidence ... but that appears to be changing, and we're seeing the response."

Meanwhile, Wall Street got another boost when the Institute for Supply Management said its March index of national manufacturing activity rose to a reading of 48.6 -- indicating a contraction, but a slower one than in February and tamer than many analysts had predicted. Government data on construction spending for February also came in better than expected.

The Dow rose 391.47, or 3.19 percent, to 12,654.47.

More Here



hey, wait.  I thought we were doomed, DOOMED, DOOMED?

We are doomed, most Americans have no money in the market, everyone's house is being foreclosed on, no one can afford gas, who gives a rat's ass about the stock market..........

.........oops, sorry, that was DU mode. :evillaugh:
Voted hottest "chick" at CU - My hotness transcends gender


Offline DixieBelle

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Re: Dow Closes Up Nearly 400 Points
« Reply #2 on: April 01, 2008, 04:04:16 PM »
I'm sure the Obama/Clinton people are working overtime to spin this appropriately.
I can see November 2 from my house!!!

Spread my work ethic, not my wealth.

Forget change, bring back common sense.
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No, my friends, there’s only one really progressive idea. And that is the idea of legally limiting the power of the government. That one genuinely liberal, genuinely progressive idea — the Why in 1776, the How in 1787 — is what needs to be conserved. We need to conserve that fundamentally liberal idea. That is why we are conservatives. --Bill Whittle

Offline Lord Undies

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Re: Dow Closes Up Nearly 400 Points
« Reply #3 on: April 01, 2008, 04:14:02 PM »
I may just buy a whole gallon of WHOLE milk to pour over our crackers. 

Offline asdf2231

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Re: Dow Closes Up Nearly 400 Points
« Reply #4 on: April 01, 2008, 06:36:48 PM »
I may just buy a whole gallon of WHOLE milk to pour over our crackers. 

You could get the DELUXE cat food for Sunday Dinner!




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Set a man on fire and he will be warm for the rest of his life...

Offline DixieBelle

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Re: Dow Closes Up Nearly 400 Points
« Reply #5 on: April 01, 2008, 06:43:01 PM »
Or name brand burritos instead of those $.99 generic ones.

*okay, I kind of like those*

I can see November 2 from my house!!!

Spread my work ethic, not my wealth.

Forget change, bring back common sense.
-------------------------------------------------

No, my friends, there’s only one really progressive idea. And that is the idea of legally limiting the power of the government. That one genuinely liberal, genuinely progressive idea — the Why in 1776, the How in 1787 — is what needs to be conserved. We need to conserve that fundamentally liberal idea. That is why we are conservatives. --Bill Whittle

Offline Duke Nukum

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Re: Dow Closes Up Nearly 400 Points
« Reply #6 on: April 01, 2008, 07:13:47 PM »
The Dow has been on a teeter-totter recently.  One day closing up 300, two days later giving it all back.
“A man who has been through bitter experiences and travelled far enjoys even his sufferings after a time”
― Homer, The Odyssey

Offline Lord Undies

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Re: Dow Closes Up Nearly 400 Points
« Reply #7 on: April 01, 2008, 07:18:51 PM »
I may just buy a whole gallon of WHOLE milk to pour over our crackers. 

You could get the DELUXE cat food for Sunday Dinner!

WOO HOO!  Fancy Feast!

Offline CactusCarlos

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Re: Dow Closes Up Nearly 400 Points
« Reply #8 on: April 01, 2008, 07:19:33 PM »
Quote
The Dow rose 391.47, or 3.19 percent, to 12,654.47.

Rethugs had a good day on the backs of hard-working Americans. </DUmode>
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