Stocks Keep Good Vibes Going

Stocks climb as investors are cheered by Fed plan to help consumer credit
By Kevin Spak,  Newser Staff
Posted Nov 25, 2008 9:13 AM CST
Stocks Keep Good Vibes Going
Trader Paul LaRegina works on the floor of the New York Stock Exchange.   (AP Photo)

Stocks continued to rise at the open this morning, with the Dow climbing more than 100 points and the S&P gaining 1.5%, as investors cheered the Treasury and Fed’s new program to boost consumer credit, the Wall Street Journal reports. The Nasdaq, however, was off slightly. The Dow has gained 10% during the past two sessions, its fastest 2-day climb since 1987.

News that the government would purchase up to $100 billion of GSE debt in competitive auctions drowned out the government’s downward revision of third-quarter GDP. Another gloomy indicator came from the S&P/Case-Shiller home price index, which showed a 17.4% year-over-year drop in September. (Read more stock market stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.