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Stock Watch: Markets Continue Comeback From Last Week's Deep PlungeAired April 18, 2000 - 1:02 p.m. ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LOU WATERS, CNN ANCHOR: President Clinton saying he is confident about the future of the stock market and for a second straight day American investors seem to agree with that assessment. Stock prices continue their comeback from last week's very deep plunge.
CNN's Rhonda Schaffler brings up to date from the floor of the New York Stock Exchange.
RHONDA SCHAFFLER, CNN CORRESPONDENT: Hi there, Lou.
Well, we are seeing the recovery continue here. So that's helping to relieve some investor nerves. People are still recovering from that huge sell-off on Friday and there is some uncertainty out there about the market's short-term direction.
But the one fact is, is that corporate America is at least coming through. We're having a number of corporations report earnings reports that are even better than what Wall Street forecast. And that's helping to give some underpinnings to the market's move.
Let's take a look at the Dow Jones industrial average: very strong triple-digit rally under way. The Dow is up 164 points and, on a percentage basis, the Nasdaq is doing even better. The Nasdaq is approaching a gain of nearly six percent at the moment. It's up 206 points, one reason for that: stock of Intel, for instance, is up better than $6 in anticipation of its earnings report coming out later today.
So the recovery here is continuing and the relief continues to build, too, when we're seeing the market hold onto and build the gains -- Lou.
WATERS: OK, Rhonda, we will check back.
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