Markets are rallying. After spending much of the morning in the red, the S&P 500 is now up 13 points (0.6%). The Dow is up a whopping 177 points (1.0%). This is largely due to Visa’s 9.7% surge after reporting strong earnings. Because it’s a price-weighted index, the 20-point rally in the Visa is adding a full 128 points to the Dow. (Currently, a 1-point move in the Dow translates to a 6.42195-point move in the Dow.) This price action follows the advance Q3 GDP report, which showed that the US economy expanded at a 3.5% rate during the three …read more
Source: Business Insider
