We interrupt the steady drumbeat of bad news for this message.
The Dow closed almost 900 points higher today. And it all happened in the final hour of trading. It was the second-largest point gain in history — the largest was just two weeks ago.
According to the Associated Press, bargain hunters were buying “in anticipation of a Federal Reserve rate cut, (and) grabbed stocks that have been pounded lower in recent sessions.”
Is that a bottom?
About the blogger
Bob Collins has been with Minnesota Public Radio since 1992, emigrating to Minnesota from Massachusetts. He was senior editor of news in the ’90s, ran MPR’s political unit, created the MPR News regional website, invented the popular Select A Candidate, started the two most popular blogs in the history of MPR and every day laments that his Minnesota Fantasy Legislature project never caught on.