For a couple of weeks, stocks have been steadily declining. However, today the Dow Jones jumped for the second day in a row. Intel, who has been down since March, posted better than expected results, sending the stock up 7.3% ($1.22). At the morning bell, stocks seemed to be off to a slow start, but throughout the day, stocks began to surge. Even though unemployment is almost to an outstanding 10%, the economy is showing signs that it is in the early stages of recovery.
Matthew Kaufler, a portfolio manager based out of New York stated, "What we're seeing is some confirmation that stabilization is in fact upon us........At least right now investors are willing to say it's not going to be as bad as feared."
-- Edited by PMP on Friday 17th of July 2009 12:44:31 AM
