Bargain Hunting Maybe Sending U.S. Stocks Up

Originally published on August 5, 2011 11:11 am
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STEVE INSKEEP, Host:

Investors cannot take off their seatbelts just yet. After falling off a cliff, yesterday, U.S. stock prices started today, higher - well over a hundred points up. Seemed to be relief over the monthly jobs report which came out today and showed more jobs were created in July than previously expected. There was also a slight fall in the unemployment rate, to 9.1 percent. But the optimism did not last very long. Traders seem to have looked across the Atlantic at the troubles in Europe and become anxious once again. The Dow is now down better than a hundred points. The S&P is off one and a half percent. Both stock averages are now well below where they started this year.

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