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In Spite Of Unemployment Data, Stocks End Positive
By
Jen Chung
Published Apr 3, 2009
Modified Apr 3, 2009
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By
Jen Chung
Published Apr 3, 2009
Modified Apr 3, 2009
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Even with data showing the worst unemployment rate since 1983, the Dow settled above 8,000 points for the first time since February 9, rising 39.51 points to end at 8,017.59 (+0.5%). The Wall Street Journal reports the Dow has gained 21% over the past four weeks, while, during the same period, the S&P 500 has gone up 23% (it rose 1% today) and the Nasdaq has grown 25% (it went up 1.2% today). One investment strategist told Bloomberg News, "No matter how you feel about the stimulus package, some of it is going to stick and the economy should stabilize in the second or third quarter. If that’s going to happen, the market should sniff it out."
Tagged
economy
recession
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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