Markets Open Up, Extend Last Week's Rally
The markets opened up slightly this morning as Wall Street tried to extend last week's 9 percent rally.
In the first 15 minutes of trading, the Dow is up about 70 points, or about 1 percent.
The broader S&P 500 is up about 1.2 percent and the tech-heavy Nasdaq is up about half of 1 percent.
The markets may be reacting to last night's appearance on "60 Minutes" by Fed Chairman Ben Bernanke, in which he reiterated his prediction that recovery will being later this year.
Bank stocks are showing particular buoyancy this morning -- shares of Citigroup and Bank of America are both up strongly.
-- Frank Ahrens
By
Frank Ahrens
|
March 16, 2009; 9:44 AM ET
Categories:
The Ticker
| Tags: Ben Bernanke, Dow Jones, nasdaq, s&p 500
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Posted by: morenews1 | March 16, 2009 12:13 PM | Report abuse
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The market obviously loves Obama and is glad the new stimulus package didn't get bogged down with a lot of whinny republican complaints.
The market is glad to see something being done to help the economy and move the country forward.
HOPE is on the way.
Now if we can arrets DICK cheney and send him to Iraq in chains for the people there to hold a special trial for him.