Dow Breaks 8,500

More bad news for Roubini!

On a day in which more banks were revealed to be deficient in Tangible Common Equity, the Dow rallied over 100 points to break 8,500.

The bears and shorts cower and hide. Already Cisco (CSCO), which was one of the earliest bellwethers for the crumbling economy, reported strong results after hours and is trading up over 4%.

While the S&P 500 gained over 1.7% to close at 919.53, the NASDAQ lagged a little, only gaining .28%.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.