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So now that Wall Street is rebounding, how long for everything else?

NEW YORK – The Standard & Poor's 500 index is up for the year. And for once, it was the housing market that sent stocks soaring.

The S&P 500, considered Wall Street's most important indicator, bounded up 3.4 percent Monday and erased the last of its losses for 2009. And the Dow Jones industrials shot up more than 200 points and had their first finish above 8,400 since Jan. 13.

Two months ago, an S&P 500 in positive ground would have seemed impossible, with the stock market having fallen to 12-year lows on fears of a worsening recession. Monday's rally was led by the same financial and housing stocks that were decimated by the credit crisis and the sinking economy, and it added more momentum to a stunning rally that began March 10.
http://news.yahoo.com/s/ap/20090504/ap_on_bi_st_ma_re/us_wall_street

Answer Question
 
sweet-a-kins

Asked by sweet-a-kins at 9:17 PM on May. 4, 2009 in Politics & Current Events

Level 34 (67,502 Credits)
Answers (14)
  • I think it will take a long while. Everything I've heard seems to agree that unemployment will continue to stay high even through most of the year, even if the market continues the upward trend. They say it is because unemployment rates take a long time to catch up, due to the conservativeness of the companies hiring, and the consumers spending less money. So even though the banks will be doing better, it will take a long while for it to catch up with the general public.
    stacymomof2

    Answer by stacymomof2 at 9:48 PM on May. 4, 2009

  • All we can do is wait and see. I hope the employment problem rectifies quickly.
    gludwig2000

    Answer by gludwig2000 at 9:54 PM on May. 4, 2009

  • google this....False Dawn.

    Anonymous

    Answer by Anonymous at 10:07 PM on May. 4, 2009

  • They are saying by the end of the year things should be truely on the upswing.
    Anonymous

    Answer by Anonymous at 10:07 PM on May. 4, 2009

  • The stock market has had more swings than a teen-aged girl with PMS. I'm hopeful, but not counting on anything.
    mancosmomma

    Answer by mancosmomma at 10:16 PM on May. 4, 2009

  • They said the housing market is getting better so Im hoping this is the turn around...
    sweet-a-kins

    Answer by sweet-a-kins at 10:38 PM on May. 4, 2009

  • The housing market is getting better because of first time buyers and their tax credit. They have to buy before the end of the year. I have a feeling by the middle of Dec. things will fall off again and if the rest of the economy isn't in a good place, things will go to crap again. I expect things to get worse (way worse) than they are now. If I am wrong, then I will be pleasantly surprised. If I am right, then I won't be taken off guard.

    Anonymous

    Answer by Anonymous at 10:51 PM on May. 4, 2009

  • How long for what hyperinflation due to the bailouts? Oh any day now. yaht tha's what happens when you print your own money. Get ready to pay $10 for the cheap loaf of bread.
    Ibelongtojesus

    Answer by Ibelongtojesus at 7:22 AM on May. 5, 2009

  • Now that EVERYTHING has been nationalized, does it really friggin ' matter?..........................................

    mustbeGRACE

    Answer by mustbeGRACE at 7:48 AM on May. 5, 2009

  • Have you ever heard of the Bear rally? It is very rare but it si when the stock market suddenly climbs and then it suddenly falls. It casue wide catastrafe. I think that that might happen. Every thing we have built our lives on are bubles instead of God's way which is sharing what we have but man is greedy.
    Ibelongtojesus

    Answer by Ibelongtojesus at 7:59 AM on May. 5, 2009

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