Dow Shocks with 92 Point Gain

But credit worries still lurking
By Greg Atwan,  Newser User
Posted Jul 30, 2007 3:44 PM CDT
Despite second-quarter profits, Radioshack fell 12% after the electronics retailer announced its revenue fell 15% as it closed 481 stores.(AP Photo/Chris Gardner, file)   (Associated Press)
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(Newser) – The Dow rebuffed Wall St.'s bearish ambiance today, picking up 92.84 points to close at 13,358.31. One analyst says the weekend calmed jitters that led to a 500 point bloodletting at the end of last week, and a day without any major economic shakeups or earnings reports had brokers "looking at the numbers and realizing things aren't so bad."

But he added, "we're not out of the woods yet." The credit markets undergirding recent gains continue to have traders biting their nails, and slowing mergers still suggest the bull market has peaked. Radio Shack shares fell 11% after a mediocre report, the Nasdaq climbed 21.04 to 2583.28, and the S&P added 14.96 to close at 1473.91.