Stock Market Surges on Monday
May 4, 2009 by Stephen Kersey
Filed under Business
Not long ago, it seemed like the stock market would never stop dropping. However, after a few weeks of strong gains, the mood on Wall Street is much improved. Many experts believe that the worst days are in the past and that the future should include a steady climb.
Wall Street (Image: Flickr)
On Monday, all the indexes look healthy. The Dow Jones industrial average went up 2.6% to finish the day at 8,426.7. NASDAQ finished at 1,763.6 after also jumping 2.6%, while the Standard & Poor’s 500 index was up 3.4% to 907.2.
The Standard & Poor’s 500 index is especially impressive because that index is now in the positive since the start of 2009, which means that all the damage done in the last few months has now been recovered. The last time the S&P 500 was higher than 900 was the second week of January.
The two industries that helped Monday’s rally were two industries that had been responsible for the fall — the banking industry and the housing industry. With good news in both industries hitting the wire as of late, investors are showing more and more confidence in those companies that were previously questioned.
