Dow Jones Rises Over 7000
March 13, 2009 at 7:10 AM (PT)
The DOW JONES Industrial average moved back above the 7,000 mark in early trading THURSDAY reports MSNBC. Just after noon the DOW was up about one and a half-percent. The NASDAQ and S&P 500 were up similar percentages, creating the possibility of a three-day rally.
The rise continued early this morning, with the 7100 mark passed in early trading, bringing many radio stocks higher, before falling slightly. Follow the DOW here.
Investors seemed to shrug off early indecision on mixed economic data, and also took a cut in GENERAL ELECTRIC's credit rating in stride. STANDARD & POOR'S lowered GE's top rating one notch because of problems at the conglomerate's lending arm.
The market initially dipped on the move but then recovered, a positive sign for stocks that have been rebounding from 12-year lows this week.
On TUESDAY and WEDNESDAY, the market had its first two-day advance in more than a month.
On WEDNESDAY, the DOW JONES industrials managed to record their first two-day climb since early FEBRUARY.
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