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Stocks Rally; Losses Nearly Evaporate
Wednesday, October 10, 2001
(4:53 PM ET)
By Elizabeth Lazarowitz / Reuters

Wall Street expects grim third-quarter results...

NEW YORK -- Reuters
Stocks jumped on Wednesday, with the broad market nearly erasing losses made in the wake of the Sept. 11 attacks, as upbeat earnings news soothed investors' nerves and Wall Street took a fourth day of U.S.-led military action against Afghanistan in stride.

Thursday marks the one-month anniversary of the deadly attacks that leveled the World Trade Center and killed more than 5,000 people. Major stock market indexes fell more than 11 percent the week after the attacks -- the market's biggest loss since the Depression -- but have steadily clawed back up in recent weeks.

"There are still a lot of things that can go wrong, but I think right now the rally is based on the anticipation that things are going to get better and the military campaign will go OK," said James Volk, co-director of institutional trading at D.A. Davidson & Co.
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2001 © Reuters Limited.

Dan