Just as I had expected, Wall Street bounced back after last weeks hardships. Prices opened up low and surged over the course of the day, with the Dow ending 92.84 points higher than it closed last week raising to 13,358.31. As for other indicators, it seemed to be gains across the board, S&P 500 rose 14.96 points to 1,473.91, The Russell 2000 index rose 6.4 points to 784.23Advancing issues outnumbered decliners by about 2-to-1 on the New York Stock Exchange, on volume of 2.27 billion shares.Morgan Stanley rose 24 cents to $64.61 after S&P Ratings Services raised its rating on the investment Morgan Stanley, noting well-executed growth in the investment bank’s core businesses. Making for another great increase by what looked like a fleeting stock.Other financial stocks rebounded after being punished last week amid credit concerns. Merrill Lynch & Co. rose $1.45 to $76.71, while Bear Stearns Cos. advanced $4.07, or 3.3 percent, to $127.25. American Express Co. rose $1.59, or 2.7 percent, to $60.14.Even stocks that seemed to be disappearing started to rise again. Sears Holding Corporation(SHLD) which has been declining pretty rapidly going from almost $200 a share to a low of $135.04 last week is back up… Read full this story
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