Stock market gains

After last week’s losses, the Dow Industrial gained more than 400 points. Attributed to the European $1 trillion bailout plan of Greece, the gain hints at the possibility of long term recovery. The trillion dollar plan will help troubled nations and stabilize the euro.

The euro gained versus the dollar, and the dollar gained versus the yen. On Friday, trades of 296 stocks were cancelled by Nasdaq. These stocks were the ones whose prices fluctuated the most. The trades occurred between 2 p.m. and 3 p.m. During the fluctuation, the stocks were traded at the price at 2:40 when they should have traded at the 2:45 price.

The Dow plunged almost 1,000 points in a matter of minutes, but was able to gain some of that back before the end of the day.

Hopefully, the upward swing will continue as Europe’s unstable economy is addressed.

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Posted on May 10, 2010, in Global Biz, Market Trends and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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