Lucky No. 7
Yesterday the Dow lost 777 points, the House of Representatives rejected the $700 billion bailout package and the S&P lost $700 billion of its value.
Sounds like “unlucky” number 7, right?
Yesterday’s sell-off was an overreaction and yesterday I mentioned this would be a good opportunity to buy some undervalued stocks. Well, the bargain-hunters just couldn’t resist, the Dow, Nasdaq and S&P were up around 3 percent each, heading into the second half of the day.
Some major movers today include yesterday’s newsmakers Citigroup and Wachovia, which are up 15 and 63 percent, respectively.
Tags: bailout, citigroup, dow, nasday, s&p, wachoviaRelated Stories
POSTED IN: Corporate, Economy, Federal Reserve, Investment, Market, News
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