Wall Street can finally breathe easy..albeit it's just alittle.
A set of economic reports out Wednesday were predictably gloomy, but the stock market continued its winning streak. The Dow Jones industrials rose 247 points, the first time since April 15-18 there were four straight days of gains.
The market reversed losses from the early in the trading day after President-elect Barack Obama pledged to have a plan to deal with the nation's economic crisis on his first day in office.
And traders shrugged off a familiar string of bad economic reports: consumer spending sinking by the most since 2001, jobless claims stuck at recessionary levels, factory orders falling and new-home sales at a nearly 18-year low.
Despite all these, most felt it was a sign of coming shorter-term stability rather than long term.
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