Dow Up 96 Despite CIT Woes

Rally extends into 4th day on Roubini comments, tech optimism
By Nick McMaster,  Newser Staff
Posted Jul 16, 2009 3:16 PM CDT
New York University economist Nouriel Roubini speaks at the Council on Foreign Relations in New York, April 25, 2008.   (AP Photo)
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(Newser) – Stocks gained today as the tech sector continued to inspire and economist Nouriel Roubini predicted a recovery in late 2009, the Wall Street Journal reports. Though the looming bankruptcy of CIT Group depressed stocks most of the day, financials were able to trim losses before the close. The Dow rose 95.61, closing at 8,711.82. The Nasdaq gained 22.13, settling at 1,885.03, and the S&P 500 added 8.06, to 940.74