Stocks Rise For Second Straight Day
March 11, 2009 by Stephen Kersey
Filed under Business
On Wednesday, the stock market saw positive signs for the second consecutive day. At the close, the Dow Jones industrial average was up to 6,930. Other stock indexes showed similar gains, with the Standard & Poor’s rising 1.8% to 721 and the composite index for NASDAQ improving 13.4% to 1,372.
Good Day For Money - Source: Flickr
Surprisingly enough, a lot of the improvement over the last two days has been in the banking and technology industries. Those two industries have had a rough year, with the banking industry losing billions upon billions of dollars.
Bank of America, JPMorgan and Citigroup each posted gains on the day. Bank of America rose nearly 3% to $4.93, while JPMorgan was up approximately 4.5% to $20.40 and Citigroup was up more than 6% to $1.54. Apple and Hewlett-Packard both saw stock jumps of about 5%.
Although the stock market has desperately needed good news, experts caution that this news isn’t likely a sign that stocks will start on the road to recovery. Practically every market experts believes that the worst days are still ahead.
Source: Wire Reports
