Stocks Jump on Solid Earnings; Dow Over 9,000
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Stocks are spiking sharply today amid better-than-expected corporate earnings and a slowing pace of weekly initial jobless claims.
The Dow Jones Industrial Average, which is currently up 177 points, or 2%, has jumped over the 9,000 level today, marking it's highest level in 2009 so far -- 9,071. July has been an extremely strong month for the average, jumping more than 7% since the 1st of the month. Also notably, since March 6, when the Dow hit a multi-year low of 6,470, the index has risen about 40%.
Despite the massive bounce off the lows, the DJIA is still 36% below the all-time high set on October 11 at 14,198.10, suggesting that, for all the talk of "green shoots" and a recovery, U.S. stocks are still technically in a bear market.
The Dow Jones Industrial Average, which is currently up 177 points, or 2%, has jumped over the 9,000 level today, marking it's highest level in 2009 so far -- 9,071. July has been an extremely strong month for the average, jumping more than 7% since the 1st of the month. Also notably, since March 6, when the Dow hit a multi-year low of 6,470, the index has risen about 40%.
Despite the massive bounce off the lows, the DJIA is still 36% below the all-time high set on October 11 at 14,198.10, suggesting that, for all the talk of "green shoots" and a recovery, U.S. stocks are still technically in a bear market.
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