6 day 18.3% rally; but will we keep it

Posted by: Howard Silverblatt on November 4, 2008

The market has rallied 18.3% since the October 27th close, including the 10.8% October 28 gain. The fact that we have been able to hold on to it is impressive. The political environment has added hope of quick positive action to the current economic problems, but whoever wins, and regardless of Senate makeup, it will be a tough journey. Since both candidates state that they will start to address the issues quickly, the market test should be in the details of the plan - which shouldn’t be long to be disclosed or at least test ballooned.

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About

Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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