Futures point to positive Wall Street open
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AP
Published: October 7, 2008
Futures trading suggest an upward U.S. stock market opening after a breathtaking plunge yesterday took the Dow Jones industrial average down 800 points before a big rally.
Still the Dow lost 370 points yesterday in yet another day of extreme volatility and worldwide worries about the financial crisis and stubborn credit, even after the 700 billion dollar U.S. bailout.
The Dow finished below 10,000 for the first time since 2004 and lost more than 3 and a-half percent for the day, and there were no signs fear and unpredictability were leaving the stock market any time soon.
Speculation among traders that Wall Street’s pullback had been severe enough to force the Federal Reserve into taking other steps to soothe the markets helped stocks rebound from their lows yesterday.
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