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Chicago Tribune

Stocks up this month despite dismal predictions

Just a few weeks ago, economists and investors were fixated on the possibility of a double-dip recession. Stocks were plunging and were expected to be trapped in a holding pattern until the November election.

No one was talking about a rally.

Yet this month investors have had a change of heart and pushed the Dow Jones industrial average up 8 percent.

“Not-so-bad news is becoming good news,” said John Kosar, of Asbury Research. “People are willing to take a chance,” though low volume still shows a “lack of urgency” to buy.