Monday, November 24, 2008

US stocks soar on Citigroup bailout

Stocks in New York rose 6% today on news that beleaguered banking giant Citigroup would receive government assistance. The Dow closed at 8443 while the S&P ended the session at 851. The rally was more modest in Asia as the Nifty was only up 0.5% to 2708 while the Sensex was actually fractionally down at 8903.

The trend appears to be up here and tomorrow may well build on today's gains in advance of the Sun-Mercury conjunction.