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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (42537)	9/25/2001 10:45:17 AM
From: stockman_scott	Respond to of 65232

Stocks Climb, Extending Monday's Rally Tuesday September 25, 10:38 am Eastern Time NEW YORK (Reuters) - Stocks rose in early trading on Tuesday as investors, emboldened by Monday's rally some two weeks after a terror attack on the nation, brushed off a tumble in consumer confidence and focused on a surge in existing home sales. ``The market appears to be in a rally mode despite the uncertainty of future earnings,'' said Alan Ackerman, a market strategist at brokerage Fahnestock & Co. ``While many are bearish on U.S. stocks, twelve months out there is likely to be a real earnings resumption and real earnings clarity.'' The blue-chip Dow Jones Industrial Average (.DJI) rose about 58 points, or 0.67 percent, to 8,661.85, after logging its fifth largest point gain ever on Monday in the wake of last week's stunning sell-off. The tech-loaded Nasdaq Composite Index (.IXIC) climbed about 19 points, or 1.23 percent, to 1,517.91, after jumping more than 5.3 percent on Monday. The broader Standard & Poor's 500 Index (.SPX) added about 10 points, or 1.01 percent, to 1,013.55 after Monday's 3.8 percent bounce. U.S. consumer confidence fell sharply in September, suffering its largest one-month drop since October 1990, during the Gulf crisis, according to a survey that captured part of the economic shock from the Sept. 11 attacks on New York City and the Pentagon. ``It's not a surprise, the data hasn't told us anything most of us didn't already suspect,'' Ackerman said. ``The home sales, however, remain strong. The U.S. economy has great qualities of resilience.'' Sales of U.S. existing homes rose 5.8 percent in August to a record rate, a real estate trade group said on Tuesday in a report that contrasted with weak housing starts data from the same period.