Around quarter to one this afternoon the Dow was 323 points (2.7%) in the red and looked to be headed even lower. But Wall Street had different plans.
From 12:45 to the end of the trading day the Dow ballooned an impressive 625 points (5.4%) in a stunning rebound fit for the NBA.
Even the major bank stocks, which have been a serious headache for investors over the past few months, swelled to close up nicely this afternoon…
- Citigroup up $1.96 (8.03%)
- JPMorgan Chase & Co up $4.86 (11.89%)
- Bank of America up $3.18 (8.50%)
- Wachovia up $3.39 (10.62%)
- Wells Fargo & Co up $2.43 (9.02%)
- Washington Mutal up $1.33 (9.00%)
- Countrywide Financial up $0.67 (12.59%)
- Merrill Lynch & Co up $3.62 (6.65%)
Broader stock indicators also surged. The S&P 500 rose 28.10 (2.14%) to 1,338.60, while the Nasdaq increased 24.14 (1.05%) to 2,316.41.
– luke
