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TUESDAY, NOVEMBER 24, 2009
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 MARKETS 
3

Dow Up 30 After Rally Fizzles

Merck sees big gains on earnings projection

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(Newser) – A rally that saw the Dow up almost 140 points on the Fed’s announcement that it would keep interest rates low for an “extended period” collapsed in the final hour of trading today, the Wall Street Journal reports.Tanking insurance stocks were blamed.

  • The Dow closed up 30 points at 9,802.
  • The Nasdaq lost 2 points to close at 2,056.
  • The S&P 500 gained 1 point, settling at 1,047.

Specialists Scott Wetzel, Michael Bonnano and Peter Gaicchi, left to right, and Gennaro Saporito, foreground right, work at a post on the floor of the New York Stock Exchange Wednesday, Nov. 4, 2009.
Specialists Scott Wetzel, Michael Bonnano and Peter Gaicchi, left to right, and Gennaro Saporito, foreground right, work at a post on the floor of the New York Stock Exchange Wednesday, Nov. 4, 2009.   (AP Photo/Richard Drew)
Specialist Anthony Solomon, left, is surrounded as he works at his post on the floor of the New York Stock Exchange Wednesday, Nov. 4, 2009.
Specialist Anthony Solomon, left, is surrounded as he works at his post on the floor of the New York Stock Exchange Wednesday, Nov. 4, 2009.   (AP Photo/Richard Drew)
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3 comments
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Netstorm2k9
Nov 4, 09 3:33 PM CST
THE SKY IS RISING!! THE SKY IS RISING!! Reply
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Sniffer
Nov 4, 09 3:48 PM CST
Looks the Bubble is about to Pop. Reply
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JoeQ
Nov 4, 09 4:16 PM CST
Volatility is finally falling back a little. The dollar dropped after the fed announcement about interest rates. Spot gold soared at the same time. It isn't the end of the world just yet. Reply
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