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Posted: 10:31 AM Mar 10, 2010
Stock Market Marks One Year Anniversary Of Bear Market Lows
Financials and businesses dealing with consumer products have posted the strongest gains from last years lows.
Reporter: Kristin Burke |
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It will be tough for many of us to forget this day one year ago... That's when the stock market hit bottom. But the market has staged a more than five and a half trillion dollar comeback since then... As expectations about a recovery continue to grow .
Stocks are up more than 60-percent since closing at 65-hundred on March Ninth of 2009. This is the one of the biggest rallies for stocks since the Great Depression.
Local financial advisor Grant Moore says too much debt was dragging stocks down. He adds volatility and emotion seem to be absent from the market right now... some of the biggest factors behind the upswing.
More of us are putting our money back into the market. Which he says is a good sign our economy is out of the recession and stocks will continue to grind higher.
" A lot of companies have tightened their belt and essentially gotten back to profitability. one of the ways to do that however is laying off workers but it has proven in terms of the stock market it proves they are back to profitability. Really when you look at the long run and look at where we are going I think its stabilized and the recovery is definitely underway."
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Oh the woes of the GOP. Ha
