As we reported Friday in our weekly Market Update newsletter, most of the major indexes and the exchange traded funds (ETFs) that track them were down: The Dow Jones industrial average ended the week down 0.6%. The S&P 500 lost 1.8% and fell below its long-term trend line (200-day moving average). The Nasdaq lost 2% and the Russell 2000 small-cap index was down 1.6%.
Today it appeared as if the indexes were making up for Friday’s losses. The Dow Jones industrial average increased 286 points, which is its biggest single-session point gain since Oct. 2002 and its largest percentage gain since 2003, according to Tim Paradis for the Associated Press.
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