Volatile Day Ends With Gains
Utilities, energy spur late rally that leaves Dow up 172
By Nick McMaster,  Newser Staff
Posted Oct 23, 2008 3:35 PM CDT
The Dow was down as much as 276 points during today's session before finishing up 172 after a surprise late rally.   (Getty Images)
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(Newser) – Stocks saw wild triple-digit swings today before closing with gains, MarketWatch reports. Many earnings reports were poor, and weekly jobless claims spiked, but investors also found bright spots amid the gloom. The Dow rose 172.04 to 8,691.25. The Nasdaq fell 11.84 to 1,603.91, but the S&P 500 rose 11.33 to close at 908.11.

Coca-Cola fell 5.1% after two of its bottlers reported falling profits. Goldman Sachs fell 5.3% on news it will downsize its workforce. But Dow Chemical rose 10.4% on strong earnings, and Boeing gained 8.4% as it re-entered talks with a striking union. The Libor declined, but not as much as in recent days, and rates for commercial paper rose slightly.