Dow ends day with 553 point jump. Ends 4-day slump.
November 14th, 2008
Though nervous about the recession and nearly $1 trillion in stock value that was lost the past four trading days on the market, many traders took action and purchased huge quantities of stock when the S&P's 500 looked like it was recovering from its own trading lows.
Investors on Thursday were positioning themselves aggressively, partly due to hopeful good news most are expecting to come from a meeting in Washington next week where world leaders are expected to attempt to mend the world financial troubles through bailout agreements.
Anticipation was the catch word on the trading floor.
Thursday's rally was proof that many traders are hoping the world economies will be able to put together stimulus plans and multi-billion dollar bailouts that will help to end the world recession quickly.
While many still forecast a rocky future for the stock markets around the world, the fact that the market aggressively jumped into positive territory on Thursday is a great sign to many analysts.
Don't expect the worst to be over though.
Most analysts and insiders believe the worst is still to come, but Thursday's jump is leading many to believe that there is light at the end of the tunnel.
