VOA标准英语10月-Stocks Soar on Wall Street as Markets Bounce Back

The Dow Jones Industrial Average Monday registered its biggest daily point gain ever, gaining 936 points or 11 percent. VOA's Barry Wood reports that Wall Street's powerful rally followed new commitments of public money to unfreeze credit markets.
　

Wall Street traders, 13 Oct 2008

The rally was sparked by commitments from the major financial nations to cooperate in getting the credit markets functioning again.

On Sunday, the major European Union nations committed more than $1 trillion to safeguard their banks and financial system. U.S. bankers were summoned to the Treasury¹ Department on Monday as the U.S. government prepares additional measures to stabilize² markets.

Monday was first day in nine trading sessions that Wall Street closed higher. Last week, U.S. markets were off more than 15 percent as the credit squeeze worsened and market participants were skeptical³ that government assistance was forthcoming. All that changed with the weekend statements from finance ministers at the International Monetary⁴ Fund and World Bank officials in Washington and European leaders in Paris.
　

Trader Steven Marcus works on the floor of the New York Stock Exchange, 13 Oct 2008

In percentage terms, Monday's rally was the biggest advance in the Dow Industrials since 1933 and the point gain dwarfed⁵ the previous record gain of 499 points set during the technology bubble in early 2000. The Nasdaq index was up nearly 12 percent or 195 points.

European and Asian stock markets registered similar gains on Monday.

Oil rebounded⁶ from a 13-month low to close at about $81 a barrel. Gold prices fell some $11 to $838 an ounce.

Among the best performing stocks was Morgan Stanley, which rebounded by 80 percent after obtaining a big cash injection from Mitsubishi Bank of Japan.

Market analyst⁷ Brad Hintz of Sanford Bernstein in New York says former investment banks like Morgan Stanley and Goldman Sachs are being transformed.

"These are fine franchises⁸," said Brad Hintz. "The model we're going to have going forward is going to be the wholesale⁹ bank. We've seen that before. That's the old Bankers Trust, that's the old JP Morgan. And Morgan Stanley and Goldman will go in that direction."

Speaking on Bloomberg Television, Hintz said both Goldman and Morgan Stanley will remain powerful franchises. He added that he is cautiously optimistic that inter-bank lending will increase soon.

1 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

2 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

3 skeptical   

adj.怀疑的，多疑的

参考例句：

• Others here are more skeptical about the chances for justice being done.这里的其他人更为怀疑正义能否得到伸张。
• Her look was skeptical and resigned.她的表情是将信将疑而又无可奈何。

4 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

5 dwarfed   

vt.（使）显得矮小（dwarf的过去式与过去分词形式）

参考例句：

• The old houses were dwarfed by the huge new tower blocks. 这些旧房子在新建的高楼大厦的映衬下显得十分矮小。
• The elephant dwarfed the tortoise. 那只乌龟跟那头象相比就显得很小。 来自《简明英汉词典》

6 rebounded   

弹回( rebound的过去式和过去分词 )； 反弹； 产生反作用； 未能奏效

参考例句：

• The ball rebounded from the goalpost and Owen headed it in. 球从门柱弹回，欧文头球将球攻进。
• The ball rebounded from his racket into the net. 球从他的球拍上弹回网中。

7 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

8 franchises   

n.（尤指选举议员的）选举权( franchise的名词复数 )；参政权；获特许权的商业机构（或服务）；（公司授予的）特许经销权v.给…以特许权，出售特许权( franchise的第三人称单数 )

参考例句：

• TV franchises will be auctioned to the highest bidder. 电视特许经营权将拍卖给出价最高的投标人。 来自《简明英汉词典》
• Ford dealerships operated as independent franchises. 福特汽车公司的代销商都是独立的联营商。 来自辞典例句

9 wholesale   

n.批发；adv.以批发方式；vt.批发，成批出售

参考例句：

• The retail dealer buys at wholesale and sells at retail.零售商批发购进货物，以零售价卖出。
• Such shoes usually wholesale for much less.这种鞋批发出售通常要便宜得多。