A start of the year rally helps Wall Street make gains.
Wired PR News.com – After a catastrophic 2008, Wall Street investors were hoping for signs of a recovery as early as possible in 2009. As reported by Reuters, the U.S. stock market showed possible signs of that highly hoped for recovery as Friday’s trading day saw gains in the Dow Jones Industrial Average of 252.81 points, the Standard & Poor 500 Index with a 27.83 point gain, and the Nasdaq Composite Index, which increased 3.50 percent.
Peter Jankovskis of OakBrook Investments LLC, is quoted in the Reuters report as stating, “The market is always discounting where it will be six to nine months out… We’re getting close to the point if people believe that things are getting better it will be reflected shortly in the market.”
Many wait in anticipation to see the affect President Elect Barack Obama’s stimulus plan will have on the market. Obama will reportedly discuss plans with Congress on Monday.