Wall Street spent much of the day higher with investors snapping up financial stocks, but the rally

Описание: (16 Mar 2009) HEADLINE:March 16: Stocks give up gains after 4-day rally
CAPTION: Wall Street spent much of the day higher with investors snapping up financial stocks, but the rally fizzled late in the session as investors locked in profits. (March 16)
[Notes:ANCHOR VOICE]
NB. THIS IS A VOICEOVER TRANSCRIPT, NOT A FULL SHOT LIST.
Wall Street spent much of the day higher with investors snapping up financial stocks, but the rally fizzled late in the session as investors locked in profits.
Comments from Fed Chairman Ben Bernanke about the prospect of the recession ending later this helped encourage traders. Bernanke said a turnaround is likely if government efforts to revive the banking industry succeed
[Notes:SOT: David Wyss, Standard & Poor's]
I TEND TO AGREE WITH HIM. I THIMNK THE RECESSION WILL END LATER THIS YEAR, BASED ON THE AMOUNT OF MONEY BEING INJECTED INTO THE ECONOMY. STILL ANOTHER SIX MONTHS BEFORE THA HAPPENS.
Gains on overseas market also helped encourage investors.
Japanese financial stocks surged on reports that the government would bolster their capital, while British investors were reassured by Barclay's, which said it has been performing well so far this year.
The Dow Jones industrial average ended the session down 7 points at 7,217. The blue chips had earlier risen as much as 169 points. The Standard & Poor's 500 index fell 3, to 754, while the Nasdaq dropped 27 to 1,404.

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