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Article: Taking stock: With the economy perking up and the stock market starting to roll, what's the outlook for mortgage industry stocks? (Cover Report: Secondary Market).
- Article from:
- Mortgage Banking
- Article date:
- April 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Mortgage Bankers Association of America. 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 CLANG OF THE OPENING BELL AT THE NEW YORK Stock Exchange has taken on a whole new tone as the nation's economy drags itself back from recession. March came in like a lion on Wall Street, with the Dow Jones Industrial Average hitting 10,368.86 the first Friday of the month. The following Monday, the Dow surged again--this time adding 217.96 points, leading it to close at 10,586.82. It was the Dow's best performance since late July.
The Nasdaq composite index surged 71 points on March 1, then another 56.58 points the first Monday of March, closing at 1859.32. The Standard & Poor's 500-stock index gained 47 points in the two-day rally, registering 1,153.84 at ...