Tuesday, December 02, 2008
Is this the start of the rally that is a harbinger of an economic recovery? The Associated Press's Tim Paradis reported that the stock market scored "gains of 16.9 percent for the Dow since the rally began Nov. 21, 19.1 percent for the S&P 500; and 16.7 percent for the Nasdaq." For the S&P 500 that represented "the largest five-day percentage gain since March 16, 1933." True half of that was regaining what the market lost in the first two days after the election. Yesterday, we gave some of that back.