Weekly Market Review ~ Friday, 10/28/11
Stocks gained ground on Monday, sending the NASDAQ into positive territory for the year. A positive earnings report from Caterpillar and a lack of bad news from Europe contributed to the gain. On Tuesday, the market plummeted after a meeting by European Union finance ministers to discuss Greek debt was canceled, as hope that a Greek debt solution would be reached shortly faded. Stocks gained back most of Tuesday’s losses on Wednesday on hope that China will be involved in the Euro bailout plan. The Dow roared to a 339 point gain on Thursday after a very early morning agreement among European leaders to deal with Greece’s debt was met with approval. A report that the US economy accelerated in the third quarter also propelled stocks. On Friday, stocks posted a small gain, an encouraging sign that the large gain from the previous session was not immediately given back. [table id=34 /]