Thanks to the UNION cavalry i.e., Hamilton's disciples....Government enhancing the private sector weakness and correcting its failures
Rally pushes stocks to nearly 5-year highs
NEW YORK (CNNMoney) -- A rally on Wall Street gained momentum Thursday afternoon, sending stocks to fresh multi-year highs, as investors welcomed the Federal Reserve's new bond-buying plan.
The Dow Jones industrial average jumped 207 points, or 1.6%, while the Nasdaq rose 1.3% and the S&P 500 gained 1.6%. Prior to the Fed's announcement, all three major indexes had been just 0.2% higher.
The day's gains pushed the Dow and S&P 500 to their highest closing levels since December 2007, while the tech-heavy Nasdaq finished at its highest level since November 2000.
Financial stocks led the broad rally, with the KBW Bank index (BKX) climbing 2.8% to its highest level since May 2011. Bank of America's (BAC, Fortune 500) nearly 4.8% advance led the Dow higher, while JPMorgan's (JPM, Fortune 500) 3.7% rise helped the stock fully recover the losses it suffered following the 'London whale' disclosure.
http://money.cnn.com/2012/09/13/investing/stocks-markets/index.html
Rally pushes stocks to nearly 5-year highs
NEW YORK (CNNMoney) -- A rally on Wall Street gained momentum Thursday afternoon, sending stocks to fresh multi-year highs, as investors welcomed the Federal Reserve's new bond-buying plan.
The Dow Jones industrial average jumped 207 points, or 1.6%, while the Nasdaq rose 1.3% and the S&P 500 gained 1.6%. Prior to the Fed's announcement, all three major indexes had been just 0.2% higher.
The day's gains pushed the Dow and S&P 500 to their highest closing levels since December 2007, while the tech-heavy Nasdaq finished at its highest level since November 2000.
Financial stocks led the broad rally, with the KBW Bank index (BKX) climbing 2.8% to its highest level since May 2011. Bank of America's (BAC, Fortune 500) nearly 4.8% advance led the Dow higher, while JPMorgan's (JPM, Fortune 500) 3.7% rise helped the stock fully recover the losses it suffered following the 'London whale' disclosure.
http://money.cnn.com/2012/09/13/investing/stocks-markets/index.html
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