Business

Another Day, Another 900 points (Up -- This Time)

That giant cracking sound you hear is whiplash on Wall Street, where the Dow Jones Industrial Average surged nearly 900 points on no news in particular after tumbling about 500 points over the last two sessions. That was enough to make the last Tuesday in October (not generally a good month for stocks) the second […]

Stocks_close

That giant cracking sound you hear is whiplash on Wall Street, where the Dow Jones Industrial Average surged nearly 900 points on no news in particular after tumbling about 500 points over the last two sessions.

That was enough to make the last Tuesday in October (not generally a good month for stocks) the second biggest gain in points, and seventh by percentage.

Analysts were trying to make sense of it all:

Analysts said some investors were buying in anticipation that the Federal Reserve will cut its fed funds rate by half a point to 1 percent on Wednesday. Others said the market had just fallen too far, with the Dow having dropped more than 500 points, the previous two trading days.

Among the biggest gainers in tech were Amazon, Dell, Google, HP, Intel, Oracle, Rimm and Time Warner, which all had double-digit gains. Apple was nearly above above $100 again, and Yahoo above $12.

Another