After The Bell: Stocks Finish Brutal Quarter On An Up Note
(CBS) -- Stocks closed sharply higher on Wednesday as traders continued the rally seen overnight in Asia and Europe. Despite today's gains, the major indices posted the worst quarterly losses in four years, with the Dow down nearly 9 percent.
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The Dow Jones Industrial Average gained 235, the S&P 500 added 36 and the NASDAQ closed up nearly 103 points, settling to 4,620.
"It was nice to see the quarter end on an up note, but after the beating stocks have taken over the past quarter, it was good but not enough solace for investors. This is a market that continues to feel a bit on the heavy side and I think the propensity for this market is still to the downside," says Chuck Carlson, CEO of Horizon Investment Services.
He adds that he thinks the market will retest the August lows.
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