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Article: Stock market rebounds sharply; Dodging the long-awaited correction bullet fired at it Friday when the Dow industrials dropped 3 percent, the stock market surged upward Monday. The Dow Jones industrial average reclaimed 110 of the 171 points it lost Friday.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- March 12, 1996
- Author:
CopyrightCOPYRIGHT 1996 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The stock market, led by the Dow Jones index of 30 stocks, rebounded strongly Monday, dodging the long-awaited correction bullet fired at it Friday when the market dropped 3 percent.
"The press and everybody, including me, has been expecting a correction," said Art Kearney, executive vice president of capital markets at John G. Kinnard and Co. "Everybody anticipated the downward move to carry through today. When that didn't take place . . . people started buying stocks."
The Dow Jones industrial average reclaimed 110 of the 171 points it lost on Friday. The blue-chip index had a shaky morning, popping higher, then retreating 30 points. It gained again by ...