Stocks rallied for the third straight week in what appears to be a classic bear market rally. Investors should count their good luck and use higher prices as an opportunity to reduce equity exposure or hedge stocks they don't want to sell.
The Dow Jones Industrial Average jumped by 367 points or 2.2% to 17,006.77 while the S&P 500 rose by 52 points or 2.7% to 1999.99. The Nasdaq Composite Index rose 2.8% to 4717.02. The major averages have gained about 10% since their February lows, giving investors hope that the worst is over.