After falling to 12-year lows Tuesday, Wall Street bounced back just ahead of President Obama’s key speech.
The Dow jumped 3.32% closing at 7,350.94 while Standard & Poor closed 773.14 (a 4.01% increase) at after hitting their 1997 level. Same story for Nasdaq closing 3.90 higher at 1,441.83.
The market anticipated that the President’s speech would detail his concrete plans for economic recovery and provided a positive mood. However, analysts say that there’s no specific catalyst to the increase.
President Obama addressed a joint session of Congress late Tuesday.
Source: AFP
