Thursday, April 2, 2009
Enthusiastic investors are buying up stocks again, sending the Dow Jones industrials above the 8,000 mark for the first time in nearly two months.
All the major indexes are soaring more than 3.5% as investors grow more optimistic that the economy is on the mend.
Financial stocks are leading the rally, following the relaxing of certain accounting rules that should help banks reduce losses. Meanwhile, the world's finance leaders are meeting in London to discuss efforts to fix the global economy.
In midday trading, the Dow is up 266 points to 8,027. The Dow has not risen above 8,000 since Feb. 10.
The Standard & Poor's 500 index is up 29 to 840, while the Nasdaq composite index is up 63 to 1,615.
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