Markets on Wild Ride Today
We're kind of glad we didn't have time to do a market opening posting this morning, because it would have proved meaningless by midday.
Futures pointed to a sharp drop, which the markets provided out of the gate. But then, as if on a trampoline, they shot back up and recovered their opening losses before 10 a.m.
They continued their climb and crossed into positive territory just before noon and didn't stop until marking a 1 percent gain just before 1:30 p.m., before backing off a little.
As of 2:40 p.m., the Dow is up about 65 points, or 0.7 percent.
The S&P 500 is up 0.6 percent and the Nasdaq is up about half of 1 percent.
The markets were led upward by energy stocks following the government's report today on crude inventories, suggesting an increasing demand for oil.
August 19, 2009; 2:45 PM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, oil, s&p 500
Save & Share: Previous: GM Announces First Production Hike, Worker Rehire Since Bankruptcy
Next: New Jobless Claims Higher Than Expected
Posted by: Dermitt | August 19, 2009 4:26 PM | Report abuse
Posted by: Dermitt | August 19, 2009 4:31 PM | Report abuse
Posted by: Dermitt | August 19, 2009 5:21 PM | Report abuse
The comments to this entry are closed.