Stocks Rebound On Strong Profits Dow Surges 206 Points As Buyers Return

Summary

---

NEW YORK - Stocks staged a stunning rebound Thursday as investors snapped up shares on unexpectedly strong earnings from companies including Nokia Corp. and Motorola Inc., and the surprising news that the New York Stock Exchange plans to merge with electronic trader Archipelago Inc. The Dow Jones industrial average soared more than 200 points, its best day in two years.

Bargain-minded buyers jumped back into the market a day after concerns about rising inflation eclipsed strong earnings, sending stocks sharply lower. The day began with brisk trading, which some analysts worried wouldn't last, but with money flowing out of bonds, Wall Street grew more confident about the prospects for equities after last week's sell-off.

See the full content of this document

Extract

---

Stocks Rebound On Strong Profits Dow Surges 206 Points As Buyers Return

"Obviously the market is oversold when you get multiple days of 100-point sell-offs," said Matt Kelmon, portfolio manager of the Kelmoore Strategy Funds...

See the full content of this document

---