Dow Up 216, Flirts With 8,000

Financial sector celebrates relaxation of mark-to-market accounting rules
By Nick McMaster,  Newser Staff
Posted Apr 2, 2009 3:14 PM CDT
Traders work on the floor of the New York Stock Exchange today.   (AP Photo)
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(Newser) – Stocks rallied today to a strong finish as global action to combat the financial crisis boosted confidence, the Wall Street Journal reports. The European Central Bank cut interest rates, and G20 tripled the lending budget of the International Monetary Fund to $750 billion. After going above 8,000, the Dow closed up 216.48 at 7,978.08. The Nasdaq gained 51.03 to 1,602.63, and the S&P 500 rose 23.30, closing at 834.38.