Market calms after big surge - WALB.com, Albany News, Weather, Sports

Market calms after big surge

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January 10, 2006

Albany -- Stocks are already back down today following an important milestone on Wall Street.

Yesterday, the Dow Jones closed at its highest since before the September 11th attacks. The Dow Jones industrial average closed above 11,000 points for the first time since June 7, 2001.

But today, the Dow has dropped back below 11,000.

A. G. Edwards financial advisor Marilyn Hedrick says there will still be peaks and valleys, but she expects those valleys won't be quite so hard on investors. "After the market went down and stay down for so long, everybody just got demoralized with this horrible stock market. All of a sudden, we've climb our way back and now we've hit 11,000 again. So maybe the worst is behind us."

Hedrick also says the Standard and Poors index hasn't had such a five-day gain since 1950.

Analysts point to stabilizing oil prices and optimism that the federal reserve may soon end interest rate hikes as reasons for the surge.


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