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Closing Bell: Where'd that bear go?

Posted Mar 25th 2008 5:48PM by Jon Ogg (RSS feed)
Filed under: After the Bell, Sirius Satellite Radio (SIRI), , Goldman Sachs Group (GS), Valero Energy (VLO), Anadarko Petroleum (APC), Suntech Power Hldgs ADS (STP)

There are many that fear the bear hasn't died. Maybe he's hibernating. But if the bear isn't gone, he's at least lost some teeth. In the last hour of trading today, the DJIA was up more than 900 points from its intraday lows seen just last Monday. Despite weaker home prices trends not seen for 20 years and despite an absolutely dismal ugly Consumer Confidence report, the market managed to do well today despite mixed index averages at the closing bell. There was not a single earnings report that can be used for "the focus" that turned the whole market. It looks like there was actually real buying interest coupled by short covering. Here are the unofficial closing bell index averages for today:

DJIA 12,532.60 (-16.04; -0.13%)
S&P500 1,352.99 (+3.11; +0.23%)
NASDAQ 2,341.05 (+14.30; +0.61%)
10YR-TBond 3.492% (-0.03)

Monsanto (NYSE: MON) rose almost 10% to $114.54 after the agriculture giant raised guidance for both Q2 and for fiscal 2008 based on strong seed sales and all other markets firing on all cylinders.

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