Stocks Skyrocket, Unemployment Jumps, Bank of America Says No
The worst unemployment numbers since 1974 did nothing to stop stocks from skyrocketing today. Extreme optimism over the government bailout counteracted the poor economic data sending stocks into the stratosphere. Bank of America CEO Kenneth Lewis said no to nationalization pushing the stock higher and adding to the positive feelings in the market. The DJIA soared +217.52 to 8280.59, the tech heavy Nasdaq advanced +45.47 to 1591.71 and the broad based market barometer S&P 500 climbed +22.75 to 868.60.
Bank of America
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Skechers
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Weight Watcher’s
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Skyworks Solutions
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Oil fell by $1.00 to $40.03, Gold dropped $0.10 to $914.30 and the fear index VIX pulled back 0.82% to 43.37.
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