The One Thing People Are Buying? Stocks.

Consumer confidence may be down but people are buying stocks

AP: In midday trading, the Dow rose 154.60, or 1.89 per cent, to 8,330.37 in volatile trading that saw the Dow rise 331 points in the early going. The big moves weren’t a surprise, given the huge swings stocks have shown in the past six weeks since the bankruptcy filing of Lehman Brothers Holdings Inc. Only two of the 19 trading days in October haven’t ended with the Dow up or down by triple digits.

Broader stock indicators also advanced. The Standard & Poor’s 500 index rose 14.23, or 1.68 per cent, to 863.15, and the Nasdaq composite index rose 14.53, or 0.96 per cent, to 1,520.43.

The Russell 2000 index of smaller companies fell 2.47, or 0.55 per cent, to 445.93.

 

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