U.S. Stock Market Bounces Back
March 4, 2009 by Stephen Kersey
Filed under Business
After five straight days of losses, the United States stock market finally broke that streak on Wednesday. Of the stocks that saw their prices move, approximately 75% of the stocks became more valuable. At the bell, the Dow Jones industrial average gained almost 150 points to finish at 6,875.84.
Money Clip - Source: Flicker
The other indexes also showed improvement. The S&P’s 500 gained 16.5 points to go back over 700 and finish at 712.9. Indexes for Nasdaq and the Russell 2000 also posted gains.
Most of the good news in the stock market is being attributed by market experts to the Chinese government. In China, it appears as if they are completing a bailout package of their own. Following the bailout, it’s expected that China will become a buyer of products from around the world, which would in turn stimulate the global economy.
Stocks for companies that would benefit from Chinese spending like Caterpillar and Alcoa saw impressive gains. On the other side of the token, General Electric saw another day of losses. GE’s stock price is at a point it hasn’t seen in nearly two decades.
Despite Wednesday’s events, experts caution that this may just be a temporary jump and that dark days still lie ahead.
Source: Wire Reports
