|Updated: Dendreon, Amarin among Friday's gainers as markets bounce then fade|
|By Staff and Wire Reports|
|Friday, 05 August 2011 16:57|
The news seemed to reassure investors following the worst trading day since 2008. If you looked away Friday, you might have missed a market rally. Or a plunge.
A soothing government report on employment in July eased concerns that the U.S. might slide back into a recession, and the Dow Jones industrial average rose as much as 171 points soon after trading began. But fears that Europe's growing debt crisis might threaten U.S. banks and the fragile economy ruled Friday.
After its early rise, the Dow fell more than 400 points and was down 243 just before noon. Then it rose nearly 400 points in less than an hour and was up 135 points. The rest of the day, the blue-chip stock index bounced up and down, sometimes by as much as 100 points in less than half an hour. The Dow Jones industrial average ended the day up 61 points, or 0.5 percent.
Late on Friday, CNBC reported that U.S. government officials are bracing for the rating agency Standard & Poor's to downgrade the country's credit as early as this evening or take other possible action, according to someone familiar with the matter.
Throughout Friday, markets were rife with speculation that S&P, which has had a negative outlook on the U.S. since April 18, would downgrade the country's credit from its current triple-A level.An S&P spokesman declined to comment on any possible plans for a downgrade or statement later Friday.
Below is a list of some of Friday's top gainers in Healthcare: