Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Markets Recover From Midday Slump, Edge Upward Toward Close

UPDATED at 2:25 p.m.

Wall Street has recovered from a midday slump and is less than two hours from closing back on the positive side, meandering around on a day without market-moving news.

After a mildly positive opening, the three major indexes on Wall Street rose steadily until about 11 a.m., then turned downward, crossing into negative territory after lunch.

Now, as of 2:25 p.m., the Dow and the broader S&P 500 are both up about 0.2 percent.

The tech-heavy Nasdaq is up about half that. All on light volume.

10 a.m.: Wall Street opened the week with a mild positive opening, riding the rally that traveled from Asia to Europe last night.

In the first half-hour of trading, the Dow is up half a percent and the broader S&P 500 is up 0.6 percent.

The tech-heavy Nasdaq is up less, about 0.4 percent.

Today is a pretty light day for scheduled economic news; no market-moving data are due out.

In economic news, Reader's Digest filed for Chapter 11 bankruptcy, as we wrote about last week.

And Irish drugmaker Warner Chilcot has purchased Procter & Gamble's prescription drug business for $3.1 billion, sending shares of P&G up slightly.

-- Frank Ahrens

By Frank Ahrens  |  August 24, 2009; 2:25 PM ET
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Cash for Clunkers Deadline at 8 p.m. Today
Next: Does Bernie Madoff Have Cancer?


"If suddenly, 20,000 to 60,000 more doctors retire because the stock market is back up, we will be in trouble." Let's hope the market stays down.

Posted by: Dermitt | August 24, 2009 6:11 PM | Report abuse

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company