Wired News delivered to your inbox or hand-held device. The market's broader indicators also rose. The Nasdaq Composite Index was up 80.79 at 2,166.37, and the Standard and Poor's 500 advanced 36.31 to 1,285.75. Analysts attributed the sharp upturn largely to professional money managers pumping the cash they've been holding onto back into the market. Even as many big companies are still announcing layoffs and other cost-cutting efforts, Pradilla said the economy does have some brighter spots.
Housing is still very strong.
This is not an economy that is in a rout, and we are going to see some positive things from what the Fed is doing. Historically, the market's major indexes turn higher about six months after the Federal Reserve starts to lower interest rates. The central bank made its first cut Jan. 3. Send it . Use this version.