Stocks Start To Rally
After a grim 2008 start, stocks have begun to rally the past couple of days, showing respectable gains at the close. Many speculate that the reason people are buying are renewed hopes for rate cuts, as well as a general belief that the market is oversold.
For the year, the S&P 500 is still down just over 3%. Small caps and tech have begun 2008 horribly. Small caps are down by about 5.5%, with the Nasdaq down just over 6%.