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
Standard & Poor's (S&P) affirmed Lithuania's long-term investment grade sovereign foreign currency BBB credit rating and removed it from a CreditWatch negative position, citing government commitments to address deteriorating public finances.
more »
The EBRD-EIB Multilateral Carbon Credit Fund (MCCF) and Azerenerji Joint Stock Company are collaborating in order to promote energy-efficient power generation in Azerbaijan.
more »
U.S. President Barack Obama, meeting with the leaders of Mexico and Canada, called on all three nations hit by the global recession to avoid resorting to protectionism.
more »
A 10-year $75 million EBRD loan will finance the construction of a combined heat and power plant in the east Siberian city of Krasnoyarsk which is expected to improve energy efficiency and cut pollution by 14 percent thanks to the use of more environmentally-friendly technologies.
more »
The Directorate-General for Competition has issued a review of the aid schemes introduced by Member States and approved by the Commission during the financial crisis.
more »
Rescue planes from New Zealand have been taking part in a massive search for passengers after a ferry sank off the coast of Tonga. At least 27 people are missing.
more »
Courtney Adams has always loved cooking. As a kid she baked brownies for her friends and in college her apartment was the place to go to for a home-cooked meal. But she never thought she'd cook for a living.
more »
The European Commission has authorised, under EC Treaty state aid rules, a scheme offering reduced-interest loans to businesses investing in the production of environmentally friendly products, as part of the German package to tackle the current economic crisis.
more »
Ramūnas Bičiulaitis, former board member and financial director of AB LEO LT, starts working as head of the Finance Department of Danske Bankas.
more »
The EBRD has kept up a rapid pace in the syndicated loans market, defying difficult market conditions and pulling together nine deals so far this year, worth a total €1.2 billion.
more »