Saturday, November 29, 2008

REMEMBER THE "OBAMA RECESSION"?

That's what Limbaugh and Hannity were calling the drop in the stock markets until recently. We now have a tremendous rally and you can be sure that neither of them will make much of it.

U.S. Stocks Post Biggest Weekly Gain Since 1974 as Banks Rally
By Lynn Thomasson

Nov. 29 (Bloomberg) -- U.S. stocks staged the biggest weekly rally in more than 30 years after the government agreed to protect Citigroup Inc. from more losses and automakers weighed cutting costs to win federal aid.

The S&P 500 rose 12 percent to 896.24, the steepest weekly gain since 1974. The Dow Jones Industrial Average increased 782.62 points, or 9.7 percent, to 8,829.04. The Russell 2000 Index of small-cap stocks climbed 16 percent to 473.14.

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