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September 7, 2008 11:54:31 PM CDT

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Dow Up After Roller-Coaster Day

Posted Nov 16, 07 3:44 PM CST in Business 

(Newser) – The major indexes closed up today after erratic trading as bad news on industrial production and new negative forecasts failed to halt an end-of-week rally. The Dow gained 66.74 to 13,176.79, the Nasdaq climbed 18.73 to 2,637.24, and the S&P 500 closed at 1,458.74, up 7.59.

Industrial production fell 0.5% last month, and FedEx and Starbucks both dropped earnings forecasts, MarketWatch reports. A Fed governor fueled negativity by saying interest rates were low enough to weather the coming storm. Investors also waited for new Merrill Lynch CEO John Thain to write off gains, a move widely expected in the near future.

Source MarketWatch

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Traders at the New York Stock Exchange take advantage of an informational area known as the "Ramp," just off the trading floor, Wednesday, Oct. 24, 2007, in New York. Wall Street pulled back today, sending...   (Associated Press)
Peter Tuchman, left, of Maven Securities talks to Albert Young of H&R Block Financial Advisors on the floor of the New York Stock Exchange, Wednesday, Oct. 24, 2007, in New York. Wall Street pulled back...   (Associated Press)
Eric Schumacher, right, of Bear Wagner Specialists talks to fellow traders on the floor of the New York Stock Exchange, Wednesday, Oct. 24, 2007, in New York. Wall Street pulled back today, sending the...   (Associated Press)
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Federal Reserve  • S&P 500  • Nasdaq  • Dow Jones  • Merrill Lynch  • Starbucks  • John Thain  • FedEx


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