Dow Rises 246 on Rosy Bank News

Rosy NYT report on Treasury 'stress tests' fuels risk appetite
By Nick McMaster,  Newser Staff
Posted Apr 9, 2009 3:23 PM CDT
Dow Rises 246 on Rosy Bank News
Traders work on the floor of the New York Stock Exchange.   (AP Photo)

Surging financial stocks spurred a broader rally today, the Wall Street Journal reports. A New York Times report that all 19 banks facing Treasury “stress tests” will pass boosted shares in a sector already buoyed by a strong Wells Fargo earnings forecast. The Dow rose 246.27 to close at a two-month high of 8,083.38. The Nasdaq gained 61.88, closing at 1,652.54, and the S&P 500 added 31.40 to settle at 856.56.

The trading week ends today because of Good Friday. For the week, the Dow rose 0.8%, the Nasdaq gained 1.9%, and the S&P 500 rose 1.7%.
(More Dow Jones stories.)

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