The Stock Playbook 11/21/08

The market fluctuated throughout most of trading Friday, as fresh concerns over the stability of the financial sector prevented the market from establishing any sustainable gains. But stocks moved sharply higher in the final half hour after a report that President-elect Obama was going to appoint New York Federal Reserve President Timothy Geithner as Treasury secretary.  The Dow rose 494.13 points, or 6.54 percent, on Friday to settle at 8,046.42. The S&P 500 jumped 47.59, or 6.32 percent, to 800.03, and the Nasdaq climbed 68.23, or 5.18 percent, to 1,384.35. Despite Friday's gains, stocks are still down sharply for the week. The Dow has lost 5.31 percent, while the S&P 500 fell 8.39 percent and the Nasdaq lost 8.74 percent.

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Posted 11-21-2008 4:35 PM by Dave Dispennette