Wednesday, November 26, 2008

Rally on Wall St continues

The rally continued on Wall St today as the Dow shook off a negative open and finished at 8726 while the S&P ended at 887. Asian stocks were also up by 3% as the Nifty ended at 2752 and the Sensex at 9026.

Wall St is closed for Thanksgiving Thursday but stocks globally seemed destined to pullback somewhat Thursday and into Friday. Given the shocking terrorist attacks in central Mumbai, one can't be sure if that market will even open Thursday. If it does, it will certainly move down. All in all, the rally is well under way here and will continue into next week.