Dow Gains 139 Points as Stocks Make Like Rocky Balboa and Get Up Off the Mat
3:49 p.m. The Dow Jones Industrial Average is doing its best Rocky Balboa impersonation as it turns a beatdown into victory.
The Dow Jones Industrial Average had been down more than 600 points at around 2:30 p.m. today, and then it decided to get up off the mat. The blue-chip benchmark has risen 139.41 points, or 0.6%, to 23,017.86, while the S&P 500 has ticked up 0.4%. to 2,477.29, and the Nasdaq Composite is off 0.1%, at 6547.52.
Is there a reason for the rally? Heck no, as long as you mean a headline or piece of news of some sort that caused it to rally. Instead, the Dow tumbled to near Monday's opening price, and then it was as if the machines kicked on. Maybe they did.
And for now, that will have to be good enough.
Write to Ben Levisohn at Ben.Levisohn@barrons.com