Stocks today rose more than 900 points after investor confidence was boosted by Mitsubishi UFJ Financial Group Inc's $9 billion investment in Morgan Stanley. Morgan Stanley soared 87 percent as a result. Also a government plan to buy stakes in banks and a Federal Reserve-led push to flood the global financial system with dollars helped fuel the largest single day advance in more than 70 years. A 2.3 trillion dollar plan that dwarfs the U.S. bailout plan helped investor confidence as well.
According to Bruce McCain of http://www.bloomberg.com/ and an investment strategist at Key Private Bank in Cleveland, "The worst of the immediate danger is past, it's always easier when you've got markets going up and you're not having to talk clients back in off the ledge.'' On the flip side however gas prices rose as oil demand was expected to increase, and the dollar fell more today than it has in three weeks against the euro.
Today's gains not only restored a shaken vibration on Wall Street, but also restored a piece of mind in the average American, reassuring that a system is in place that has been successful, and will continue to be successful. We have a long road to recovery ahead, but the hole is not as deep as it was before. Progress is the key.
...and that has been Established.
According to Bruce McCain of http://www.bloomberg.com/ and an investment strategist at Key Private Bank in Cleveland, "The worst of the immediate danger is past, it's always easier when you've got markets going up and you're not having to talk clients back in off the ledge.'' On the flip side however gas prices rose as oil demand was expected to increase, and the dollar fell more today than it has in three weeks against the euro.
Today's gains not only restored a shaken vibration on Wall Street, but also restored a piece of mind in the average American, reassuring that a system is in place that has been successful, and will continue to be successful. We have a long road to recovery ahead, but the hole is not as deep as it was before. Progress is the key.
...and that has been Established.
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