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Stocks rise on hopes for jobs plan Wed Sep 07, 2011 7:18 pm
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Investor Persona
Speculation that President Obama will announce a $300 billion jobs growth plan helped U.S. stocks rebound Wednesday after three days of triple digit losses.
The Dow Jones Industrial Average ($INDU) was up 179.2 points, or 1.6%, at 11,318. The S&P 500 ($INX) was up 23.3 points, or 2%, at 1,188, and the Nasdaq ($COMPX) was rising 51.9 points, or 2.1%, at 2,525.
U.S. stocks pared losses Tuesday, with the Dow losing 101 points after falling twice as much earlier in the day. Still, the S&P 500 has delivered its worst performance for the first three trading days in September in the benchmark's history.
The positive tone Wednesday follows gains in global markets, where European stocks rallied after a German court upheld the country's decision to help bail out troubled neighboring countries.
“We were due for something of a bounce,” said Sam Stovall, investment strategist at Standard & Poor’s. “Investors can breathe a sigh of relief on the German supreme court’s ruling. At least we dodged a bullet in the near term.”
The FTSE in London was gaining 2.8%, and the DAX in Frankfurt was up 3.4%. In Asia, Hong Kong's Hang Seng rose 1.7% while Japan's Nikkei lost 2%.
Source: http://money.msn.com/market-news/post.aspx?post=560ead71-b8f7-48dd-9cb8-895cf2ed3434>1=33006
The Dow Jones Industrial Average ($INDU) was up 179.2 points, or 1.6%, at 11,318. The S&P 500 ($INX) was up 23.3 points, or 2%, at 1,188, and the Nasdaq ($COMPX) was rising 51.9 points, or 2.1%, at 2,525.
U.S. stocks pared losses Tuesday, with the Dow losing 101 points after falling twice as much earlier in the day. Still, the S&P 500 has delivered its worst performance for the first three trading days in September in the benchmark's history.
The positive tone Wednesday follows gains in global markets, where European stocks rallied after a German court upheld the country's decision to help bail out troubled neighboring countries.
“We were due for something of a bounce,” said Sam Stovall, investment strategist at Standard & Poor’s. “Investors can breathe a sigh of relief on the German supreme court’s ruling. At least we dodged a bullet in the near term.”
The FTSE in London was gaining 2.8%, and the DAX in Frankfurt was up 3.4%. In Asia, Hong Kong's Hang Seng rose 1.7% while Japan's Nikkei lost 2%.
Source: http://money.msn.com/market-news/post.aspx?post=560ead71-b8f7-48dd-9cb8-895cf2ed3434>1=33006
