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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: Kenneth E. Phillipps who wrote (119068)3/24/2008 1:23:01 PM
From: Hope Praytochange  Read Replies (1) of 173976
 
kennykiddy still playing kiddymarketshort game ?? Sales of Existing Homes Rise 2.9% in February

By MICHAEL M. GRYNBAUM
Published: March 24, 2008
Stock markets soared Monday on Wall Street after a higher offer seemed to salvaged a bailout of the investment bank Bear Stearns and investors received a lift from an unlikely source: the housing market, which snapped a six-month streak of declining sales.

The Dow Jones industrials gained about 240 points — its second consecutive triple-digit advance — as investors cheered both developments, which offered band-aids to two of the economy’s most beaten-up sectors.

Shares of big builders like Lennar and D.H. Horton rose and financial services firms gained, sending the broad Standard & Poor’s 500-stock index up more than 2 percent. The tech-heavy Nasdaq composite index rose 3.23 percent.

Treasury yields rose as investors moved out of ultra-safe government bonds, a sign that some confidence may have re-entered the financial markets. Agricultural commodities surged, with wheat gaining more than 4 percent, after falling last week. The price of crude oil dipped slightly to $101.60, and the dollar gained against the euro.

But the resurgence may be short-lived: the Dow has swung more than 2 percent for four consecutive trading sessions, an enormous amount of volatility.
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