7-Day Losing Streak Finally Breaks in the Dow
/Stocks have had a strong turnaround this week as the Dow finally broke a 7-day losing streak, closing with a 242 point jump or 1.4% increase. It was the biggest gain for the blue-chip index since May 8th as it recovered a large portion of a 378 point loss that occurred in the longest run of losses in 4 years. The S&P's 500 Index rose 1.3% and the NASDAQ went up 1.2% while the energy sector gained 3.1% as oil prices finally rebounded with a 2% jump. Stocks also got a boost when Buffett's Berkshire Hathaway agreed to buy Precision Castparts for $37 billion.
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