Tuesday, September 27, 2011

Dow Jones Is Building Its Bottom Near 10600 Points

Wall Street Recap: Dow Jones jumps 272 points on hopes of progress in Euro crisis
Following the 6.4% weekly slump last week, the Dow Jones rebounded 2.2% to 11044 amid hopes of coordinated action from euro zone policymakers to contain the region's debt crisis, shrugging off the 2.3% drop in July new home sales report.

According to newswire, European policymakers are considering expanding a rescue fund known as the European Financial Stability Facility (EFSF) and Germany is set to vote Thursday on increasing the EFSF's lending capacity. Meanwhile, Congress is likely to pass a stopgap spending bill this week to ensure government agencies can keep operating past Friday.

Daily Dow Jones Is Building Its Bottom Near 10600 Points

Source: HLeBroking

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