Dow breaks 7,000

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The battered Dow has risen 623 points in three days. From the WSJ online:

Rekindled hope that banks will weather the financial crisis propelled the Dow Jones Industrial Average back through 7000 for the first time this month.

The Dow surged 239.66 points, or 3.5%, to 7170.06 on Thursday. The benchmark has gained 623.01 points, or 9.5%, since Monday, the biggest three-day winning streak since November.

And from the New York Times:

A few clues that the economy’s downward spiral might be slowing galvanized Wall Street on Thursday and sent world stock markets soaring for the second time this week.

Investors searching for relief from a relentless march of bad economic news found wisps of hope in developments that, not many months ago, would have been regarded as alarming. The news, by and large, was bad — just not quite as bad as feared.

Fingers crossed.

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