Tuesday, June 8, 2010

DOW up 123.49

Dow up 123.49 to 9939.98
Nasdaq down 3.33 to 2170.57
S&P 500 up 11.53 to 1062.00

The DOW rallied in the last hour of trading today ending a 2 day losing streak for the Dow dropping 440 points. Today's rally was due to Bernanke's statement that he doesn't think that the economy will go into another recession. Gold surged to a new high but close at 1235. GM making news to hold 900 more dealerships than it planned but recalled 1.5 million vehicles due to a fire hazard. Not sure if we should expect this momentum to continue to draw the market upwards since it is still obviously unstable.

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