And up it soars: Dow up 485.21 points

[Alan]

The Dow answered its worst ever single-day point loss with one of its best point gains in history, in part on hopes Congress will eventually pass a financial rescue bill that may be more favorable than the one it rejected a day go.

Today's Market

The Dow Jones Industrial Average jumped 485.21 points, or 4.68%, to 10850.66. The broader S&P 500 Index added 58.34 points, or 5.27%, to 1164.73, while the Nasdaq Composite Index picked up 98.60 points, or 4.97%, to 2082.33. The consumer-friendly Fox 50 Index rose 42.24 points, or 5.17%, to 859.05

“Yesterday was about fear, panic and frustration. Fear and panic that things were going to get a lot worse and frustration over the House's inability to pass the bailout bill," said Michael James, senior equity trader at Wedbush Morgan Securities. “Certainly there's a little bit more optimism about things today. We’ll have to see if it comes to fruition.”

The Dow's huge rally was the third highest one-day point jump in the index's history. However, on a percentage basis, the gains didn't crack the top 20 best performances

http://www.foxbusiness.com/story/markets/futures-rebound-mondays--point-plunge/

Rollercoaster making you feel woozy yet?

 

[sand_man]

http://www.foxbusiness.com/story/markets/futures-rebound-mondays--point-plunge/

Rollercoaster making you feel woozy yet?

yip, that's the stock market for you, it's governed by sentiments and rumours... oh and greed which is why it will always go up...