U.S. Stock Market Soars Almost 900 Points

The old and new media were filled with "financial experts" offering the financial equivalent of reading tea leaves.

NEW YORK, NY (Catholic Online) - In one more sign pointing to continued economic volatility in the United States, the increasingly mercurial Dow Jones Industrial Average soared almost 900 points on Tuesday, October 28.

This astounding jump is the second largest gain in market history, almost 11 percent. The largest action contributing to the gain was the influx of late day traders, searching for bargains, who stormed into the U.S. market.

The cause of the massive climb in an index which has suffered from devastating losses, 500 points in just the last two days, is beyond the ability of most financial analysts to assess with any certainty. Of course, that did not stop multitudes of financial "talking heads" from offering to pontificate all over the numerous media outlets.

The old and new media were filled with "financial experts" offering the financial equivalent of reading tea leaves. Many pointed to the anticipated interest rate cut by the Federal Reserve on Wednesday as contributing to the surge.

A refreshingly honest assessment came from one Bob Andres, the chief investment strategist at Portfolio Management Consultants. He told the Associated Press:

""There is nothing fundamental that came out today or yesterday that would take it up or down. We're all groping for something meaningful to talk about...The market is exhausted from going down."

There have been twenty trading days in the month of October. Only two of those days have been spared the wild triple digit swings in the Dow Jones Industrial average.
Tuesday's gains were particularly strong within the blue chip sector of the market.

What will tomorrow bring for the stock market in the United States? No-one knows. However, many are willing to pretend they do and networks are more than eager to give them a platform.

---

'Help Give every Student and Teacher FREE resources for a world-class Moral Catholic Education'