Wednesday’s Market Recap (11/26/2008)
Wednesday’s market action was another sigh of relief for investors as the three major U.S. averages ended well into positive territory.  The Dow Jones finished up 247 points to 8726 or 2.91% while the Nasdaq finished up 67 points to 1532or 4.60%.  The S&P 500 also finished up almost 30 points closing at 887 for a gain of 3.53%. Overseas Europe staged a late rally that moved the FTSE 100 to down only 18.56 closing at 4152.69 or down 0.44%.  This was on top of mixed Asian markets as the Nikkei 225 finshed down 1.33% while the Hang Seng and Straits Times Indexes finished up 3.81% and 3.50% respectively. In major news President Elect Barack Obama has named former Treasury Secretary Paul Volcker as the head of his special economic recovery advisory board.  Many investors believe that Volcker did a good job dealing with a tough economic environment in the 1980s and saw [More...]
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