Good News on Wall Street
By StarJeff
posted 3/23/2009
More good news on Wall Street this morning. With Washington's announcement of plans to assist the banking industry in taking up to $1 trillion in bad loans off of their books the Dow Jones rallied, rising over 250 points.
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Positive news from the housing market is contributing to the market rally as well. Last week the government released better than expected news in their housing starts report. This refers to the number of privately owned new homes on which construction has started. Then this week came the announcement of an increase in sales of existing homes.
It has been close to a year since the Dow last saw two consecutive weeks with gains. Hopefully today's news can continue the trend and drive the Dow up for a third. Investors are optimistic, especially in the financial sector.
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