Stocks continue rally worldwide
After a 936-point jump yesterday, the Dow Jones industrial average opened up more than 300 points this morning, the Associated Press reported.
Markets have been rallying worldwide. However, some investors are skeptical whether stocks will continue to rebound as companies begin to announce earnings reports. The Dow has not yet fallen below its low during the last bear market of 7,286.27 on Oct. 9, 2002, but it remains 33.7 percent below its Oct. 9, 2007, record close of 14,164.53.
The Dow rebound comes after an 18.2 percent dive last week, the worst in the index’s 112-year history.
Meanwhile, Hong Kong’s Hang Seng index jumped 3.19 percent today after a more than 10 percent rise yesterday. Japan’s Nikkei index, which was closed for the country’s market holiday on Monday, soared 14.15 percent, the largest-ever increase.
In early-morning European trading, Britain’s FTSE 100 jumped 5.63 percent, Germany’s DAX index rose 5.57 percent, and France’s CAC-40 was up 5.75 percent.
U.S. government bond yields also rose. The three-month Treasury bill’s yield rose to 0.55 percent from 0.21 percent late Friday and the 10-year note’s yield rose to 4.05 percent from 3.86 percent.