A rally on Wall Street sent stocks to fresh multiyear highs as investors welcomed the Federal Reserve's new bond-buying plan.
The Dow Jones industrial average jumped 207 points, or 1.6%, while the Nasdaq rose 1.3% and the S&P 500 gained 1.6%.
The day's gains pushed the Dow and S&P 500 to their highest closing levels since December 2007, while the tech-heavy Nasdaq finished at its highest level since November 2000. Ref. CNN
A stock rally pushed the blue-chip Dow Jones industrial average to close at 13,610, a high not seen since December 2007. Other major indexes pared their gains and ended lower for the week. Stocks were boosted by a government report showing the unemployment rate fell to 7.8% in September, its lowest level since January 2009 and lower than economists expected. Ref. USAToday
A sell-off on Wall Street gained momentum today, with the Dow falling below 13,000 for the first time since September 4, as investors focused on how President Obama plans to avoid the fiscal cliff after his re-election.
Gloomy forecasts about Europe's economic growth and a slowdown in Germany added more pressure.
Wall Street had been overwhelmingly in favor of Mitt Romney, considering him the more business-friendly candidate. Ref. CNN
I'm not surprised. People who voted Obama wanted social change, those on Wall Street were looking at financial change.
International Level: Politics 101 / Political Participation: 5 0.5%
Dow Jones closes up more than 200 points - Stocks rallied on optimism that a deal to avoid the so-called "Fiscal cliff" can be reached, with the Dow Jones Industrial Average closing up 208 points. Ref. USAToday