Thomas Heath On The Radio
The markets were back in positive territory for the year, following a surprise interest-rate cut by the Federal Reserve.
The Dow Jones industrial average rose 233.30 points, or nearly 2 percent, to close at 13,079.08 after a day of trading that saw a 320-point gain in the morning. It was the Dow's first gain in seven sessions.
Both the Nasdaq and the Standard & Poor's 500 rose more than 2 percent in yesterday's trading.
For the week, the Dow finished down 157 points, after shedding 168 points in Wednesday trading and 233 points the day before. Thursday was a wild ride for the Dow -- it dropped 340 points during trading before a late-afternoon rally brought it back to near-even at close.
Today, the ride was smoother. Staff writer Tom Heath tells us how Wall Street got a little bounce back in its step.
Give a listen here.
August 17, 2007; 5:24 PM ET
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