THE DOW JONES Industrial Average closed up 184.91 points, or 1.75%, to 10767.42, adding to Monday’s 276.74-point rise as support was seen from solid earnings reports as well as tech stocks.
Published:
19 April 2000 y., Wednesday
The Nasdaq composite gained 254.41, or 7.19%, to 3793.57, topping the record point rise of 217.87, or 6.6%, posted Monday. Tuesday’s gain also marked the index’s second biggest in percentage terms.
Other major U.S. indexes also advanced. The Standard & Poor’s 500-stock index climbed 40.17, or 2.87%, to 1441.61 and the New York Stock Exchange Composite Index gained 14.60, or 2.35%, to 634.81. Market breadth improved as advancing issues outpaced decliners nearly 2-to-1 on the Big Board.
Analysts described the two-day rally as much-needed after the Nasdaq composite closed down every day last week and the Dow industrials declined for three straight days. But none were prepared to say that the market had found its footing and wouldn’t go on to test new lows.
The recovery followed a volatile week that saw some of the biggest point losses on record. The two-day rally wiped out nearly half of last week’s 1125 Nasdaq tumble. Nevertheless, the composite still remains down nearly 25% from its March 10 high — firmly in bear market territory — while the Dow industrials are down more than 8% from their Jan. 14 high.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Today, the Commission published a Communication which outlines the most serious tax problems that EU citizens face in cross-border situations and announces plans for solutions.
more »
The European Commission has opened a formal investigation under EU state aid rules to examine a number of support measures, including several capital injections and shareholder loans, that the Hungarian authorities granted to Malév-Hungarian Airlines in the context of its privatisation and subsequent renationalisation.
more »
Internet and lax customs enforcement drive growth of 600 billion US dollar counterfeit goods industry.
more »
350 million people rose out of poverty in the past decade, but 1.4 billion are still extremely poor, says the latest report into rural poverty.
more »
New plan sets out action to reach 75% employment target for the EU by 2020.
more »
Research Ministers of the EU Member States and Associated Countries, together with the European Commission, are announcing in Brussels today three new pan–European energy research infrastructures.
more »
Algirdas Šemeta, Commissioner for Taxation, Customs, Audit and Anti-fraud, is visiting Moscow today to discuss ways in which customs cooperation between the EU and Russia can be reinforced.
more »
Following on from Monday's debate with ECB President Jean-Claude Trichet, MEPs on Tuesday adopted a resolution, by a show of hands, gauging the ECB's performance in 2009 and suggesting actions to be taken in view of the economic situation.
more »
The European Parliament today approved €10.5 million in European Globalisation Adjustment Fund aid to over 3,000 people in the Netherlands who lost their printing and publishing sector jobs last year, due to the economic crisis.
more »
A diamond-studded gold coin engraved with a picture of the Taj Mahal and worth 100,000 euros is unveiled at the Paris mint.
more »