Tuesday’s Market Recap (09/30/2008)
The markets recovered somewhat today from its biggest drop off since 2001 as investors anticipate that lawmakers will salvage the proposed $700 billion rescue plan that was turned down by the House yesterday. The Dow Jones Industrial average rose 485.21 points, or 4.68% to close at 10,580.66. The Nasdaq rose 98.60 points, or 4.97% to close at 2082.33. The S&P500 rose 5.42%, or 59.97 points to settle at 1,166.36. The 10 year Treasury note rose 537 basis points to a yield of 3.8270%. Crude oil rose above the $100 mark as investors anticipate Congress will resurrect the financial bailout plan. Crude rose $4.27 or 4.43% in today’s session, settling at a price of $100.64 per barrel. Gold took a bit of a hit today, falling $14.00 or 1.58% to settle at $874.20 per ounce. The Dollar preformed relatively strongly, and is up against [More...]
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