Rallies

Stocks Bounce Back

Forget all the negative chatter about the Obama inauguration’s negative impact on Wall Street: After a drop of more than 300 points yesterday, US stocks finished strong this afternoon, with the Dow gaining 279.01 to close at 8,227.10. The S&P and Nasdaq also gained more than 4 percent, as investors buzzed over President Obama’s new plan to shore up banks. Bank of America jumped 31 percent, while IBM gained 12 percent. Treasury Secretary-designate Tim Geithner told Congress today that in the next few weeks Obama will propose a “comprehensive plan” for responded to the economic and financial crises.