The Dow Jones Industrial Average is up about 3 percent, the S&P 500 is up 3 percent and the Nasdaq Composite is up 2 percent.
All of that, however, is for a time, because the Dow has hit bottom.
The Dow is up 0.5 percent, 0.8 percent, and 2.6 percent, respectively, according to FactSet.
And the S, P and Nasdaq are up 1.6, 3.1 and 3.6 points, respectively.
In short, the market is still holding off.
That is, unless the Federal Reserve begins pumping money into the market.
The Fed’s bond purchases, which began in late December, will help to prop up the market in the short term, but they are not expected to be enough to keep the economy on the upswing that the central bank has been so eager to promote.
The central bank is also expected to continue pumping money out of the system for a while, and that may help the economy in the longer term.
But it is hard to predict when those efforts will begin.
“There is still a lot of uncertainty,” said Dougherty.
“It is too soon to say exactly when.”
This article has been updated to include a correction to an earlier headline.
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