dass das Anheben des Aktienanteils bei 2 Investmentfirmen wie Goldman Sachs und Bank of Amerika um 5% schon die Wende bringt.......????
"We were oversold by every measure," said Art Hogan, chief market strategist at Jefferies & Co. "This is exactly what you'd expect to happen."
The Dow Jones Industrial Average rallied 342 points, or 4.2 percent, to 8,578 led by General Electric, Intel, Home Depot and Boeing. Merck, Philip Morris, Disney and McDonald's declined.
Some big money managers decided it was time to invest again even as more companies warned of weaker profits.
Abby Joseph Cohen, Goldman Sachs's head of investment strategy, bolstered optimism by raising the recommended equity weighing in the firm's model portfolio to 75 percent from 70 percent.
Bank of America Securities' Tom McManus also boosted his equity weighting to 70 percent from 65 percent and reduced bond holdings to 25 percent.
The Nasdaq Composite jumped 72 points, or 5.1 percent, to 1,495 with semiconductors , networking issues and hardware-related shares contributing to the advance
Westfalia's Cardillo warned that Friday's lows could be retested again this week.
"I don't know if it'll be sustainable," said Bill Schneider, head of block trades at UBS Warburg.
Doug Cliggott, equity strategist for JP Morgan, said the bear market that began in early 2000 "may have quite a bit further to run."
Warnings, deals
Investor optimism was tempered by a stream of earnings warnings from a cross-section of the economy. Fiber-optic gear maker JDS Uniphase, Federated Department Stores, Instinet and Potash Corp., the world's largest fertilizer maker, warned that earnings will fall short of previous estimates
Investors and analysts will get a glimpse at the state of the U.S. consumer with the release of consumer confidence figures Tuesday, as well as durable goods orders and new home sales for August out Thursday.
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