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Bill Rutherford Quoted In CNNMoney.com

Stocks rally on housing rescue

Dow surges 290 points as investors consider what the Fannie and Freddie bailout means for the broader economy.

by Alexandra Twin, CNNMoney.com senior writer

NEW YORK (CNNMoney.com) — Stocks surged Monday, with the Dow gaining 290 points and the broader market also gaining as investors breathed a sigh of relief that the government has swooped in to bail out Fannie Mae and Freddie Mac.

The Dow Jones industrial average (INDU) added 290 points or 2.6%. The broader Standard & Poor’s 500 (SPX) index added 1.8%, paring its morning gains. The Nasdaq composite (COMP) added 0.6%, after climbing in the morning and then falling in the afternoon. […]

September 8th, 2008|Categories: Bill Quoted|Tags: bailout, credit markets, dow jones, dow jones industrial average, economic slowdown, fannie mae, global economy, jon burnham, lehman brothers, new york mercantile exchange, new york stock exchange, paulson, regional banks, Rutherford Investment Management, steven goldman, stock market, treasury secretary, william rutherford|Comments Off