The stock market saw increases Wednesday as the economy begins to show signs of stabilization.
Wired PR News – News that the economy is showing signs of stability led to a rise in the market on Wednesday. As reported by the Associated Press (AP), major indexes showed even more gains following an announcement by Federal Reserve policymakers that the pace of the economic decline is slower than was shown last month.
As noted in the report, the Dow Jones industrial average rose by 169 points, causing it to close at it’s highest number in over two months. The NASDAQ composite index and Standard & Poor’s 500 rose by more than 2 percent as well. Bruce McCain with Cleveland based Key Private Bank, is quoted by the AP as stating of the market, “You had the Federal Reserve endorsing the basic stance that the economy is beginning to stabilize.”
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