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Wall St. gets double lift
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December 5, 2000: 11:07 a.m. ET
Greenspan comments, Fla. election ruling spur surges in Nasdaq, Dow
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NEW YORK (CNNfn) - U.S. stock markets took heart Tuesday morning from two events -- comments by Federal Reserve Chairman Alan Greenspan and a judicial ruling that could signal an end to the presidential stalemate -- and sent both the Nasdaq composite index and Dow Jones industrial average sharply higher.
Just after 11:20 a.m. ET, the Nasdaq gained 196.63, or more than 7 percent, to 2,812.38. The Dow rose 317, or about 3 percent, to 10,877.10. The S&P 500 advanced 41.22, or about 3 percent, to 1,366.19.
Greenspan's remarks, in a speech to a banking group in New York, signaled his awareness of a slowing in the economy. Investors interpreted that as a sign that the Fed could loosen its interest rate policy in the next few months.
But the Fed chairman's comments merely added to a buoyant atmosphere resulting from a ruling by a Florida judge that benefited Texas Gov. George W. Bush's effort to win the state's 25 electoral votes -- and with them, the presidency. 
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