Euro-Bailout Helps U.S. Stocks Rise High
After the Dow's freaky dip last week, Monday's news that the U.S. stock market was closing in on its biggest day in terms of gains this year might just boost some spirits on and off the trading floor.
After the Dow’s freaky dip last week, Monday’s news that the U.S. stock market was closing in on its biggest day in terms of gains this year might just boost some spirits on and off the trading floor. –KA
WAIT, BEFORE YOU GO…The Wall Street Journal:
U.S. stocks were on track for their biggest one-day gain of the year Monday afternoon, boosted by a nearly $1 trillion bailout package to stem Europe’s credit crisis.
The Dow Jones Industrial Average was up 348 points, or 3.4%, to 10729, helped by gains in 29 of 30 components. Wal-Mart Stores was the only exception, off 0.3%.
The Standard & Poor’s 500-share index hovered just above 1150, rising 3.7% amid gains in all its sectors. The industrial, technology, financial, consumer-discretionary, and basic-materials categories each rose more than 4%.
Optimism that global growth is back on track sent industrials rising. Cummins, which makes diesel engines and automotive parts, soared 10%. Building-products maker Masco jumped 9%.
The Nasdaq Composite jumped 93 points, or 4.1%, to 2359. If the Nasdaq closes with a triple-digit gain, it will be the measure’s first such move since October 2008.
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Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
If the president wants the federal government to be able to borrow cheaply, there are far better options than negative interest rates.
"I can think of no matter of 'intense public interest' about which 'the American people deserve the details' than the issue of what precisely happened to the criminal referrals that followed the 2008 crash."
Great Britain’s decision to leave the European Union presages perhaps another global financial meltdown. Banks will again demand massive bailouts. We will be forced to again swallow austerity measures, and there will be a continued decline in living standards.
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