The Dow Rebounds Like A Scorned Lover, Jumps 936 Points Today

Finally, some good news. Students tired of eating generic brand tortilla chips and showering less frequently to save on water, will be glad to know the economy is rebounding… at least for now.
 

Wall Street was celebrating today as the Dow Jones jumped 936 points, the biggest point gain ever. Of course, that bounce came after the doom and gloom of last week, which was the Dow’s worst ever. During that time the stock market declined by 22%, a fall not seen since the 1930s.
 

But now there’s not only an increase in the Dow, but also an increase in optimism. Investors, a dreary bunch these days, even went so far as to believe the worst of the credit crisis may be over.
 

The upturn can be credited in part to a series of global initiatives aimed at propping up the international economy. World leaders called an emergency meeting this weekend and 15 European nations agreed to add capital and guarantee interbank lending.
 

CNN explains what else could have been at work in the spike:

"We saw a lot of desperate selling over the last few weeks and at some point, these stocks start to look attractive," he said.

Previous efforts to get the credit markets moving again had failed to reassure investors, but the latest developments seemed to provide reassurance.

"Seeing that there's going to be more of a global commitment to resolving the financial crisis has given confidence to investors and gotten them to put some money to work," Colarik said.

Thank God. Maybe that will buy us a little time before we have to hear about the “greed and corruption on Wall Street” again from Sarah Palin. It’s the little things that will get us through this crisis.