NAVIGATION MAIN MENU

COMPENDIUM LIBRARY/TWITTER MONITOR
VIDEO GALLERY
Economic News
Newsbrief Archives
Democrat Leadership Twitter and Realtime Feeds
Cabinet twitter and realtime feeds
North America weblog
International weblog
Democrats twitter directory
Latest Government Jobs and Public Tenders
Jobs Matrix
Global Travel Information
Pop Entertainment Forum
Start Portal


Please make a donation to support upkeep of the daily news journal, back archives, twitter feeds and the compendium library.










Stocks advance in volatile session

Daily newsbrief journal for December 2008, also see http://www.usdemocrats.com/brief for a global 100-page perpetual brief and follow twitter @usdemocrats


Stocks advance in volatile session

Postby admin » Thu Feb 09, 2012 9:26 am

Stocks advance in volatile session
« Thread Started on Dec 3, 2008, 8:33pm »

--------------------------------------------------------------------------------
Stocks advance in volatile session
Posted: 04:33 PM ET
By Alexandra Twin
CNNMoney.com
NEW YORK (CNNMoney.com) — Stocks rallied Wednesday, finding momentum at the end of a volatile session in which investors considered a rash of weak economic reports but opted to scoop up select stocks anyway.

The Dow Jones industrial average gained 172 points, a bit over 2 percent. The Standard & Poor’s 500 index rose 2.6 percent and the Nasdaq composite gained 2.9 percent.

A rash of poor economic news sent stocks lower in the morning, but the selling petered out by midday. Stocks remained volatile in the afternoon, turning higher in the last hour.

Around 2 p.m. ET, the Federal Reserve released its periodic “beige book” survey of the economy. The survey showed that economic conditions have deteriorated in all 12 of the Fed’s districts. However, the report was expected to show weakness, and stocks turned higher shortly after its release.

“We’re not expecting good news on the economy and we haven’t been getting any,” said Bill Flaig, chief investment officer at Arrow Funds. “The reports keep coming in a little weaker than expected, but not dramatically.”
admin
Site Admin
 
Posts: 82092
Joined: Fri Nov 27, 2009 7:00 am

Return to December 2008

Who is online

Users browsing this forum: No registered users and 6 guests