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THURSDAY, NOVEMBER 26, 2009
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 MARKET OPEN 
3

Stocks Inch Up After Plunge

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(Newser) – Stocks limped higher at the open today, after a punishing Monday session that left the Dow below 7,000, its worst levels since April 1997. Today the Dow was up 80 points in early trading, the Wall Street Journal reports, while the S&P and Nasdaq added 1.6% and 1.5%, respectively. Financial stocks were modestly higher, with Citigroup up 11% and Bank of America up 4.7%

“We can finally make a case for equities being ‘cheap’ for not only the first time in this crisis but for the first time in at least 14 years,” said Deutsche Bank strategists. But “given the magnitude of this crisis we may have to eventually see very cheap levels before we bottom. So cheap is helpful but not a reason to suggest an imminent sustainable bounce.”

A board on the floor of the New York Stock Exchange shows the closing number of the Dow Jones Industrial Average yesterday.
A board on the floor of the New York Stock Exchange shows the closing number of the Dow Jones Industrial Average yesterday.   (AP Photo)
A trader works on the floor of the New York Stock Exchange during yesterday's 300-point drop.
A trader works on the floor of the New York Stock Exchange during yesterday's 300-point drop.   (AP Photo)
Specialist Ned Zelles works on the floor of the New York Stock Exchange yesterday.
Specialist Ned Zelles works on the floor of the New York Stock Exchange yesterday.   (AP Photo)
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3 comments
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bacimom
Mar 3, 09 12:44 PM CST
If they're higher then it means there gonna' sell. The traders can't see past their own wallets. Reply
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SPH
Mar 3, 09 1:16 PM CST
In order to sell they have to find a buyer...Good luck with that....
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bacimom
Mar 3, 09 4:13 PM CST
They haven't had any problems so far. Every cent earned in a day gets sold no later than the next day. The whole world revolves around their itsy profits. Dow was down again today... after comeback. I rest my case. Reply
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