UPDATE BELOW: Stocks rallied Wednesday morning, with the Dow industrials nearly hitting the 10,000 level for the first time in a year, following better-than-expected quarterly profit reports from Intel and JPMorgan Chase.
The Dow Jones industrial average (INDU) gained 116 points, or 1.2%, to 9987, almost 2 hours into the session. The blue-chip average had risen as high as 9991.68 before stepping back slightly.
The last time the Dow crossed 10,000 during a trading session was Oct. 7, 2008, when it briefly touched 10,124.03
The S&P 500 (SPX) index rose 13 points or 1.2% and the Nasdaq composite (COMP) added 23 points or 1.1%.
UPDATE: At 1:20PM EST The Dow tops 10,000 for first time since October 7, 2008.
(Source: CNN Money)
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5 Responses
So where are all the people who blame Obama for everything?? Aren’t they going to give him credit for success as much as they give him blame for failure (even if he isn’t responsible for either)?
I’m sure that when the market falls back to 8000 they’ll accuse him.
A house of cards
1 (akruma),
talk to us all when the REAL unemployment rate comes down from the 18% or so where its at now (accornding to the Federal Reserve) to around 5 percent.
till then, yes this no doubt is Obama’s disaster!
akuperma even “cnn” money (completely liberal) says economists are worried this bubble will pop.
I’m shocked that this site even reported the upswing in the market. Usually they just report anything that makes the current administration look bad. What happened?