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Stocks bounce back
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October 28, 1997: 10:54 a.m. ET
Dow climbs back into positive territory as weary investors return
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NEW YORK (CNNfn) - Buyers returned to the U.S. stock markets at midmorning Tuesday with the Dow and other key indexes bouncing back into positive territory after Monday's record declines.
At 10:52 a.m. the Dow Jones industrial average was up 126.47 points at 7,287.62, as investors searched for bargains among stocks that were battered Monday.
Broader markets recovered as well, with the Nasdaq up 10.35 at 1,545.44 and the S&P 500 up 2.83 at 879.81.
Despite an overnight sell-off in European and Asian markets, strong economic fundamentals seemed to have brought back investor confidence in the market.
"You can't tell a selling climax is over unless you get a short temporary rally," said Phil Roth, chief technical analyst at Morgan Stanley Dean Witter.
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