April 4, 2009

HEY, THESE REALLY ARE THE '30s!:

Dow Sets Best 4-Week Run Since 1933 on Tech, Banks: Growing conviction that the worst is over for the economy helped Wall Street shrug off dour jobs data. (Javno, 4/04/09)

The Nasdaq outperformed other indexes, helped by a 21 percent jump in the U.S.-listed stock of Research in Motion after the BlackBerry maker, a Canadian company, posted surprisingly strong results on brisk retail demand and gave a rosy outlook after Thursday's closing bell.

"The move into technology reflects investors rotating funds into groups likely to benefit from an economic recovery, even though a turnaround in corporate profits in that sector might still be a few quarters away," said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.

The Dow Jones industrial average climbed 39.51 points, or 0.50 percent, to 8,017.59. The Standard & Poor's 500 Index rose 8.12 points, or 0.97 percent, to 842.50. The Nasdaq Composite Index gained 19.24 points, or 1.20 percent, to 1,621.87.

Posted by Orrin Judd at April 4, 2009 6:31 AM
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