US market indices surge

US market indices surge
# 14 November 2008 08:07 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Global stock markets saw more wobbly trade Thursday before Wall Street shot higher on a sense of relief after a successful test of last month’s lows.
The Dow rose 552.59, or 6.67 percent, to 8,835.25, after falling as low as 7,965.42 and rising as high as 8,876.59. That’s a trading range of 911 points. The Dow did not sink below its Oct. 10 trading low of 7,882.51.
The Dow’s nearly 553-point gain was the third-largest single-session point gain on record, following the 889-point rise on Oct. 28 and the 936-point surge on Oct. 13.
The Standard & Poor’s 500 index rose 58.99, or 6.92 percent, to 911.29, after dropping to 818.69 — well below its previous intraday low of 839.80 set Oct. 10.
The Nasdaq composite index rose 97.49, or 6.50 percent, to 1,596.70.
The Russell 2000 index of smaller companies rose 38.43, or 8.5 percent, to 491.23.
In European trading, Britain’s FTSE 100 was down 0.31 percent, Germany’s DAX rose 0.62 percent, and France’s CAC-40 added 1.10 percent.
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