Dow leaps
Monday, October 13, 2008
Stocks surged as investors rushed into stocks after eight sessions of devastating losses, hoping that the stock market is finding some footing following pledges by governments to further aid the banking sector, including plans by the Treasury to buy U.S. bank stocks.
In the first half-hour of trading, the Dow Jones industrial average rose 358.10, or 4.24 per cent, to 8,809.29 after rising 500 points in the early going.
Broader stock indicators also jumped. The Standard [amp]amp; Poor's 500 index advanced 41.81, or 4.65 per cent, to 941.03, and the Nasdaq composite index rose 75.52, or 4.58 per cent, to 1,725.03.
© Copyright The Globe and Mail
Monday, October 13, 2008
Stocks surged as investors rushed into stocks after eight sessions of devastating losses, hoping that the stock market is finding some footing following pledges by governments to further aid the banking sector, including plans by the Treasury to buy U.S. bank stocks.
In the first half-hour of trading, the Dow Jones industrial average rose 358.10, or 4.24 per cent, to 8,809.29 after rising 500 points in the early going.
Broader stock indicators also jumped. The Standard [amp]amp; Poor's 500 index advanced 41.81, or 4.65 per cent, to 941.03, and the Nasdaq composite index rose 75.52, or 4.58 per cent, to 1,725.03.
© Copyright The Globe and Mail