Stocks Rally As Bears Flee The Blizzard: Here's What You Need To Know


Photo: Dan Nguyen NY on flickr

It was a pretty quiet day, and it one point it looked like the bulls would blow it, but… nope Bears obviously decided to book it outta town before the big blizzard hit NYC.But first, the scoreboard:

Dow: +33.52
NASDAQ: +8.35
S&P 500: +4.63

And now the top stories:

  • Overseas things were fairly quiet after some rocky nights. The huge winner was the Dhaka exchange in Bangladesh which, after crashing on Monday, surged a ridiculous 15% today. India, which has been tanking… slid again.
  • In Europe it was fairly quiet on the equity side, but yields continued to blow out. There was a report about the French and Germans planning a bigger bailout fund, but that didn’t move markets very much.
  • There was a paucity of economic news int he US, although the NFIB Small Business survey was a big clunker.
  • Basically stocks were higher all day except for in the middle of the day, though by the end they rallied again. Oil was a big winner due to Alaskan pipeline issues. Gold also had a nice day.
  • Also: Verizon iPhone!
  • Also: MBIA won a big ruling allowing its breakup into two to go forward.
  • For more, check out these photos of people rioting around the world over food prices.

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