Tuesday, September 16, 2008

9/16/08 Market Rebounds as Financials Rally

The Dow climbed back above the 11000 mark and closed at 11,059.02 up 141.51 while the S&P 500 gained 20.90 to close at 1,213.60 and NASDAQ closed at 2,207.90 gaining 27.99. Oil continues to fall dropping 4.67 per barrel to close at 91.20 per barrel. Ten year treasury notes continue to gain - up to 104.22 driving the yield down to 3.49%. The dollar lost .00040 against the Euro as one Euro will buy $1.41141. All this because the Fed kept interest rates unchanged, Lehman finds a buyer in Barclay for some of its assets and the market feels the financial sector is basically sound. That's it from Atlanta.