Closing Bell: 08.24.07

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Sponsored by the Financial Times.
Better than expected durable goods and new housing starts. Bank of Americas bailout of Countrywide. A tech rally. The major indexes all gained. But the move came on very thin trading. Lot’s of people seemed to have decided to take the day off. If the market rallies and no-one is there to hear it, does it make a sound?
If you’re still in the office, maybe you’d like the numbers. The Dow Jones Industrial Average climbed steadily all day, ending with a gain of 142.99 to reach 13378.87. Almost every Dow component went up. The S&P 500 climbed 16.87 to 1479.37. The Nasdaq Composite Index gained 34.99 to close at 2576.69. On the NYSE, rising stocks overwhelmed decliners. Two-thousand, five hundred and seventy four rose. Only 753 fell.
It was, in other words, quiet. Too quiet.
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