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Stock Market's Best Week Ever (Since November)
By
Jen Chung
Published Mar 13, 2009
Modified Mar 13, 2009
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By
Jen Chung
Published Mar 13, 2009
Modified Mar 13, 2009
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Stocks closed up today, capping the U.S. markets' best week since November. CNBC reports, "The Dow Jones Industrial Average gained 53.92, or 0.8 percent, to close at 7,223.98. That brought its four-day total to nearly 700 points, or more than 10 percent. All 30 Dow stocks finished the week positive. Even with Monday's decline, the S&P 500 and Nasdaq each gained more than 10 percent this week." Of course, this comes as economists still expect the GDP to "decline at an annual rate of 4.6% this quarter and 1.5% in the second quarter" and China, which has $1 trillion of U.S. debt, is worried about U.S. Treasuries.
Clusterstock's John Carney writes, "The biggest worry we hear from investors these days is 'did I miss the bottom?' Perhaps. But keep in mind that you've missed the bottom before, and we got right back down there and lower. In the final week in November, the Dow gained 9.73%. It gave up all those gains and more this year. So relax, friends. Enjoy your weekend." That is, until Fed Chairman Ben Bernanke's interview airs on 60 Minutes.
Tagged
Cardinal Egan
dow jones
economy
recession
stock market
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
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