Weekly Market Review ~ Friday, 10/07/11
An increase in US manufacturing and construction failed to offset continued fear of Greek debt on Monday, as shares plummeted to their 2011 lows. Earlier in the day on Tuesday, the markets plunged again, putting the S&P officially in a bear market. However, during the last hour of trading, stock staged a remarkable 4.1% rally as extreme volatility roared back to life again. The rally continued on Wednesday on a positive private-sector hiring report for September. On Thursday stocks extended their rally to three days with another large gain, as a decision by the European Central Bank to keep interest rates steady buoyed both European and US stocks. On Friday, the rally ended despite a rise in US September nonfarm payrolls. [table id=31 /]