Markets Surge at Close
UPDATED at 4:10 p.m.:
A big last-minute surge by the financials -- JP Morgan, Bank of America, American Express and Citigroup -- sent the Dow to its highest levels of the day, as it closed up 121.07 points at 11,143.13, a gain of just more than 1 percent.
Still, the Dow was down about 250 points for the week.
The S&P 500 and the Nasdaq closed about even for the day, with the former barely in positive territory and the latter just in the red.
With less than 30 minutes left on the trading week, Wall Street seems convinced that some form of the $700 billion bailout plan will be passed shortly.
As of 3:40 p.m. today, the Dow is up nearly 80 points, very near its session highs. The Nasdaq and the S&P 500 are trading slightly down on the day.
Talks among lawmakers on Capitol Hill carry on, as lawmakers attempt to hammer out a compromise bailout bill.
It is the White House's hope that lawmakers can agree before Monday's bell so another opening dive can be avoided.
-- Frank Ahrens
September 26, 2008; 3:42 PM ET
Categories: The Ticker
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