The Dow Jones Industrial Average (DJIA) surged by 233.30 (1.82%) points and ended at 13,079.08 on Friday after the US Federal Reserve lowers the discount rate from 6.25% to 5.75%. The move by the Fed is seen as a proactive stance in addressing the subprime woes currently plaguing the financial markets and has somehow boosted the confidence of investors.
Glogal equities markets rallied yesterday. The Philippine Stock Market was closed yesterday.
Last night the DJIA advanced further by a modest 42.27 (+0.32%) points to close at 13121.35.
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