Advertisement

Dow regains half of last week’s loss; Nasdaq recoups 65%

Share

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

Some quick numbers on the stock market’s momentous rebound today, which ended an eight-day losing streak that had dragged stocks to five-year lows:

--- The Dow Jones industrial average’s 936.42-point, 11.1% gain, to 9,387.61, recouped almost exactly 50% of what the index lost last week (1,874 points).

Advertisement

--- The Standard & Poor’s 500, up 11.6% today, recouped 52.1% of what it lost last week. The Nasdaq composite, up 11.8%, regained 65.4% of last week’s drop.

--- The Dow still is down 2,001 points, or 17.6%, from its close of 11,388 on Sept. 19 -- which was just before the market fell off the cliff on worsening fears about the financial system.

--- We’re still deep in a bear market: Measured from its all-time high of 14,164.53 a year ago, the Dow is down 33.7%. The S&P 500 is down 35.9% from its peak a year ago.

--- Energy stocks led the rally in the S&P 500 index today, rocketing 18.5%, on average, as crude oil futures bounced from a 13-month low on Friday to close at $81.19 a barrel, up $3.49. Energy stocks were last week’s biggest losers in the S&P, diving 25%.

--- In the 30-stock Dow, 29 issues were up. The only loser was General Electric Co., which slipped 50 cents to $21 after a JPMorgan Chase & Co. analyst warned that the company faced ‘significant downside risk’ from the economy.

Advertisement