Traders Smiling Once Again
Despite few signs the economy is truly improving (not to mention a good deal of bad news today, like consumer confidence at an all-time low), the Dow jumped nearly 900 points today—its second-greatest point gain ever—as investors looked for bargains and eagerly awaited news of an interest rate cut. The S&P gained 10.7 percent and the Nasdaq was up 9.5 percent on the day, which means instead of photos of sad traders, the news media is now showing off much happier (and cuter) ones. Finally! [WSJ, NYT]