Dow Rises 61 After Seesaw Day

S&P 500 and Nasdaq decline
By Evann Gastaldo,  Newser Staff
Posted Aug 5, 2011 9:10 AM CDT
Updated Aug 5, 2011 3:08 PM CDT

(Newser) – This would fall under the category of "volatile" trading day: The Dow rose 61 points to close at 11,445 after a series of wild fluctuations. This morning's better-than-expected jobs report led to an early surge—the Dow rose 170 points shortly after the opening bell, but the rally proved brief. Around noon, the Dow was down more than 200 points. And an hour later, it was up 115, thanks to news that Italy and the EU had agreed on economic reforms, reports MarketWatch.

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“If there is one good thing out of this crisis it is these countries are finally learning the desperate need to liberalize their economies,” says an equity strategist. The other two major indexes actually finished in the red, however: The S&P 500 dropped 1 point to 1,199, and Nasdaq was down 24 to 2,532. Because of yesterday's plunge, the weekly numbers aren't pretty: The Dow is down 5.8%, S&P 500 7.2%, and Nasdaq 8.1%. (Read more stock market stories.)

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