Thursday, December 1, 2011

Dow up Four Hundred Points


The Dow Jones Industrial Average reached 12,045.68, up 490.05 points from yesterday’s close. Adjusting for the market’s volatility in 2011, the gain is equal to about 240 points in the first nine years of the last decade, Bloomberg data show.


The Dow surged 4.2 percent, the most since March 2009, after central banks acted to make additional funds available to lenders. JPMorgan Chase & Co. and Bank of America Corp. advanced at least 7.3 percent today as the Federal Reserve and five central banks lowered interest rates on dollar swaps and China cut banks’ reserve requirements.

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