DOW Regains 485 Points
It’s been a roller coaster. Most people are selling off on fear and some are buying on fear. Yesterday, the DOW lost 777 points, which was its biggest single-day points loss in history.
No surprise to most, the DOW rebounded today and scooped back 485 points. Expect more up and down action as many feel the market hasn’t hit the bottom yet.
And our politicians can’t seem to stop playing politics for two minutes and actually work on the issues at hand.
Most of today’s rebound is undoubtedly due to the feelings of most that lawmakers will indeed get a deal done soon—this week most likely.
In other news, oil prices saw a slight regain to just over $100 a barrel ($100.64 for light, sweet crude). It’s still lower than it was just eight days ago.
The big question that remains is “how soon?” for the market to react to the bailout when it happens. Most seem to feel that we’ll see an immediate, initial bounce, but that it will take a little time to realize a solid upturn.
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