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 where he was VP of programming for Berkshire Broadcasting Co. He was an editor at the RKO Radio Network in New York, and WHDH Radio in Boston. He is the founder of the MPR News’ website. He is a private pilot and flies an airplane he built.