Posted on 03/01/2007 8:30:57 AM PST by libertarianPA
NEW YORK -- Wall Street tried to stage a comeback Thursday, with the Dow Jones industrials erasing much of a 209-point drop after an upbeat assessment of manufacturing activity eased some fears about a flagging U.S. economy. Just before 11:30 a.m. EDT, the Dow Jones industrial average was down 37.25, or 0.30 percent, at 12,231.38.
Broader stock indicators also fell. The Standard & Poor's 500 index was down 3.67, or 0.26 percent, at 1,403.15, and the Nasdaq composite index was down 11.13, or 0.46 percent, at 2,405.02.
Traders react after the close of trading on the floor of the New York Stock Exchange, Wednesday, Feb. 28, 2007, in New York. Wall Street rebounded fitfully from the previous session's 416-point plunge in the Dow industrials finishing up 52.39 points to close at 12268.63.
Investors showed their relief about manufacturing by buying some of the stocks that were pummeled in Tuesday's drop that sliced 416 points off the Dow. Fears about the U.S. economy contributed to that plunge, and a halfhearted rebound on Wednesday followed soothing words from Federal Reserve Chairman Ben Bernanke.
(Excerpt) Read more at washingtonpost.com ...
It's time to stop fighting it and embrace socialism... who's with me???
Apparently the GOP.
And if Bush was impeached last week... none of this would have happened!
The Dow did not fall "another 209" this morning. On Tuesday, the Dow hit a low of 12078.05. This morning, it hit a low of 12059.54. So this morning's low was 18.51 points lower than Tuesday's low. That's called a re-test, and, as I type this, the Dow is at 12234.18.
"Buy the rumor, Sell the fact"
"Buy the rumor, Sell the fact"
"Buy the rumor, Sell the fact"
"Buy the rumor, Sell the fact"
"Buy the rumor, Sell the fact"
That headline is certainly alarmist.
Stocks on sale.
Great time to buy some off my watch list.
Ask him and report back.
Ask him why it broke 12,000 during a Repbulican House.
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