Wall Street Pulls out of Nose Dive

             

Early indications are that the selling may be over - if not briefly. U.S. markets opened sharply higher and European markets appear to be stabilizing as well.              

 

But while the numbers look positive in the early going, investor sentiment is still negative when it comes to the economy, Washington and the markets.              

 

[Roger Spencer, New Yorker Working on Wall Street]:              

"I think any gains today will soon - are premature. We might go up a little bit but we're going to go down in the end (be)cause there's nothing that really looks good right now."              

 

[Joel Posligua, New Yorker Working on Wall Street]:      

"I mean this country has to handle our money better. I mean it's basic - pay in principal instead of letting all this interest accumulate. That's basically it."              

 

[Jeff Fedelstein, New Yorker Working on Wall Street]:    

"I think there's no leadership. I think well Congress, executive branch, people are just losing sight of what's really important - which is taking care of the American people. And globally the way everything is just tied together I think it's unprecedented and I'm not sure anybody knows how to turn it around."              

 

Analysts say it is the economy that holds the key to whether today's upturn is long-lasting or just a temporary upward move in the midst of a downward spiral.