The Dow was in the 9800s earlier today as all the major indices and commodities plummeted amid sovereign debt concerns, similar to yesterday.
But unlike yesterday, a late afternoon reversal rallied the market and we’re back to 10,000. The Dow gained 11 points to close at 10,012, the NASDAQ gained 16 points to close at 2141, and the S&P 500 gained 3 points to close at 1066.
Commodities staged a comeback as well, though not as well as equities. Soybeans, copper, and energy did well while soft goods remained down several percentage points in various markets (coffee, OJ, cocoa, etc.).
Oil closed at $71.91 a barrel, down $1.23.
Gold, in a stunning comeback, managed to squeeze out a gain of $4.40, rallying to $1067.40 an ounce. Silver is down $0.29 to $15.07 an ounce.
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