Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Wall Street Set to Rally After Dismal Week
By
Jen Chung
Published Oct 13, 2008
Modified Oct 13, 2008
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Oct 13, 2008
Modified Oct 13, 2008
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Stock futures are up 4% after as continued assurances and actions from world governments and central banks. Reuters proclaimed "Money Markets Ease on Unlimited Dollars Pledge," as Britain and Germany are committing "billions in taxpayers funds ...to prop up banks."
World markets are doing well: Hong Kong's Hang Seng index ended 9.6% higher and Sydney's S&P/ASX 200 was up 5.6% (Tokyo's Nikkei was closed due to a holiday). London's FTSE 100 is up 4.86%, Paris's CAC 40 is up 6.1% and Frankfurt's DAX is up 6.9%. Axa Investment Managers strategist Aurore Wannesson-Raynaud told Bloomberg News that governments and central banks "brought out the heavy artillery. It's possible that the worst is behind us. We should see better days ahead."
However, Fortis Global Markets senior equity strategist Philippe Gijsels said to the NY Times, We’re extremely cautious. This looks like the start of a typical bear-market rally... To repair the market will take some time. The problem is that the financial problem has now become a real economic problem. The damage has been done.”
Tagged
capital injection
central banks
economy
rally
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Man shot and killed on Midtown subway platform Saturday afternoon, NYPD says
Police said they're searching for a person of interest.
By
Ryan Kost
Published Oct 17, 2026 at 1:16 p.m. ET
Modified Oct 17, 2026 at 3:19 p.m. ET
Have you seen this Yorkie? NYPD looking for adorable pup dognapped from her Queens home
Suspects were driving a Subaru Forester, police said.
By
Ryan Kost
News
Have you seen this Yorkie? NYPD looking for adorable pup dognapped from her Queens home
Suspects were driving a Subaru Forester, police said.
By
Ryan Kost
Being reigning champions is weird for Knicks fans, but we could get used to this.
By
Catalina Gonella
Tompkins Square Park is getting a makeover. Some say it's too much.
By
Willow Higgins
Deer are all over New Jersey roads looking for sex, state officials warn
By
Rosemary Misdary
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .