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NAME: US MARKETS 20081126I TAPE: EF08/1190 IN_TIME: 10:18:31:06 DURATION: 00:01:04:11 SOURCES: AP TELEVISION/NYSE DATELINE: New York, 26 Nov 2008 RESTRICTIONS: SHOTLIST New York Stock Exchange 1 Closing bell at NYSE 2 Trading floor AP Television 3 SOUNDBITE (English) Art Hogan, Chief market analyst at Jeffries & Co: It's a market that is sort of looking at a low volume day, there's fewer participants today because of the holiday It's also looking at a market that in the short run has had a significant run and it's also dealing with disseminating a lot of news, so it's not surprising to see the kind of waffling and fluctuations we've seen in the Dow New York Stock Exchange 4 Electronic trading board AP Television 5 SOUNDBITE (English) Art Hogan, Chief market analyst at Jeffries & Co: Clearly in the near term, yeah, we're out of a near term slump We've probably have bottomed out of the market, but that said, it doesn't mean we can't go back and re-test those bottoms and it certainly doesn't mean we're going to have any sort of V-shaped recovery or immediate snap-back to more normal stock prices 6 Trader working 7 Trader typing on keyboard 8 Traders working STORYLINE: A stock market gaining confidence in the US financial system rose higher on Wednesday, propelling the Dow Jones industrials and Standard and Poor's 500 index to their first four-day advance since last spring The market reversed losses from earlier in the session after US President-elect Barack Obama pledged he would have a plan to deal with the nation's economic crisis on his first day in office The major indexes built on their gains through the afternoon, but analysts cautioned that this latest advance came on light pre-holiday volume The Dow is up 1,150 during the past four days, and the S&P 500 up almost 90 Still, the market was putting together a string of advances that seemed impossible to achieve in the depths of selling that began in mid-September after the collapse of Lehman Brothers Holdings Tuesday's gain gave the Dow and the S&P 500 index their first triple-session advances in more than two months Analysts said some of the turnaround in stocks was due to the fact that the economic news was expected to be bad Further, volume was about half of its normal levels on the New York Stock Exchange, with one billion shares traded, which can exacerbate price movements The Dow industrials rose 24714, or 291 percent, 8,72661 The Dow has not had four straight gains since April 15-18 In the three sessions ended Tuesday, it rose more than 900 points Broader indicators also rose The S&P 500 advanced 3029, or 353 percent, to 88768; it last had a four-day winning streak May 27-30 The Nasdaq composite index rose 6737, or 460 percent, to 1,53210 The Russell 2000 index of smaller companies rose 2545, or 574 percent, to 46863 Advancing issues outnumbered decliners by 3 to 1 on the NYSE