Dow Jones Industrial Average Surges 275 Points After 3-Day Slump
The Dow Jones Industrial Average today rose by 275 points to 11,415. The surge was accompanied by other indices such as the S&P 500, Nasdaq Composite and FOX 50 as well.
All major sectors also climbed today, mostly after Germany’s courts upheld Europe’s first bailout for Greece. However, while this is certainly a positive turn for the economy, many analysts say that the Euro debt crisis is far from ending.
Some stock players also attribute the bull market today from Yahoo! and Bank of America, who both did a reshuffle of officers. Carol Bartz of Yahoo! was removed as Chief Executive Officer while BoA released a widespread reorganization of company officers which includes the dismissal of two top executives.
The market is expected to continue its upward surge as President Barack Obama is set to launch in Congress on Thursday, a $300 billion package of tax cuts and federal spending increases that he hopes will energize the labor market.