Stock Market Continues to Rebound
March 26, 2009 by Stephen Kersey
Filed under Business
For much of the last few months, the only news we heard on Wall Street was bad news. However, over the past couple of weeks, an undeniable rally has formed. On Thursday, the Dow Jones industrial average rose more than 2% to 7,924.6 – the highest mark in over five weeks.
Wall Street (Image: Flickr)
Both the S&P 500 and Russell 2000 saw positive growth on Thursday. S&P 500 was up more than 2% to 832.9, while Russell 2000 finished the day up nearly 4.5% to 445.3. The NASDAQ composite index was up nearly 4% to 1587 and has now grown since the beginning of 2009.
Recently, spikes in the stock market have been due to the volatile banking and housing industries. On Thursday, better than expected consumer spending was regarded by many experts as the key to the day’s rally. Many companies who depend on consumer spending saw their stocks rise considerably.
Dr. Pepper Snapple Group rose more than 15% to finish the day at $17.87. ConAgra, which mostly sells food products, was up more than 9% to $16.99. Best Buy finished at $37.67 after rising nearly 13% on Thursday.
