Who would have thought the DOW would gain 221 and the S&P would gain 23 on the day that GM goes bankrupt.
Essentially its the same recent story. Investors believe that the recession is slowing and that a reversal of fortune is in the horizon.
We are just hanging on for the ride.
One thing is a certainty though. If Wall Street starts to stabilize and show some gains, people will loosen their purse strings.
Reuters: Nikkei gains 0.9 pct, autos advance after GM
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