US mkts rebound nearly 3% on likely plan for homeowners
US markets rebounded nearly 3% from days low in last hour of trade on reports that government is considering a new plan to subsidize mortgage payments for homeowners, which has been the epicenter of the problem. Economic data & results were better than expectation.
Dow Jones ended down 7 points at 7,933, which bounced back 240 points or 3.1% from day’s low of 7,694. Nasdaq was up 11 points, to 1542, which bounced back 47 points or 3.1% from day’s low of 1,495.
S&P 500 ended up 2 points, to 836, which rebounded 28 points or 3.5% from day’s low of 808.
US Financials recovered nearly 5% from days low and ended down 1.3%.