[lbo-talk] Fwd: WSJ MARKET ALERT: Dow Industrials Surge 940 Points

[Doug Henwood]

[All you left gloomsters who thought last week's action was proof that  
the end was near, what do you say to this? Me, I say last week was  
probably overdone, as is today - this is the sort of violent rally you  
often see in a long-term bear market. My guess is that we're still  
facing recession, but not the end of the world. But how about this for  
an endorsement of that old Wall Street maxim: "bailouts are bullish"?]

MARKET ALERT
from The Wall Street Journal.

Oct. 13, 2008

The Dow Jones Industrial Average surged 940 points, its biggest single- 
day point gain ever, as stocks rallied following the worst week on  
record for blue chips last week. Nineteen of the Dow's 30 components  
recorded double-digit percentage gains. GM rose 33%, Alcoa jumped 23%,  
Chevron gained 21% and Microsoft advanced by 19%. The S&P 500 Index  
and the Nasdaq Composite Index each rallied by more than 11%.

For more information, see: http://online.wsj.com/article/SB122389467262628273.html?mod=djemalertMARKET

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