Dow Surges Past 9,000

Ah, the benefits of low expectations. "Better-than-estimated results" from major companies sent the Dow Jones Industrial Average surging past 9,000 for the first time since January on Thursday—up over 160 points in late morning trading. Surprising quarterly numbers from eBay, Ford, and AT&T along with an increase in home re-sales produced the warm feelings on Wall Street. But don't get too giddy. "Relative to the estimates, it looks like they are doing well. Part of that is an expectations game," an expert told Bloomberg. Optimistic observers say that eBay's boost signals a recovery in e-commerce. Ford rebounded by restructuring its debt, and AT&T keeps raking in loot from the ubiquitous iPhone.