Business

Dow Closes On Historic High

PITTSBURGH (KDKA) ― Today's big rebound on the stock market came after the government announced steps aimed at supporting the banking system.

Even before the frenzy started on Wall Street, there were positive signs stemming from the European Union moving to shore up banks and stabilize the economic picture across the pond.

As buyers outnumbered sellers on the New York Stock Exchange sending the market on an optimistic climb, the president joined Italy's president outside the West Wing to address the financial crisis.

On Capitol Hill, where Democrats are talking about a post-election stimulus plan, House Speaker Nancy Pelosi called together some of the nation's brightest economic minds.

Some form of a bounce back has been expected on the Dow once it hits the theoretical bottom.

Of course, ask 10 experts you're likely to get 10 differing views on that topic.

Meantime, for many businesses on Main Street, it's still a struggle.

At Cardemone's Salon at Forbes and Wood, having empty chairs is more common than it used to be.

Patti Lesko says customers aren't coming in as often and when they do come, they're getting less service than they used to.

But not everyone is hurting. Gabriel Fontana, of Gabriel's Shoe Repair, says business is booming.

He believes that it's another symptom of the economy.  More people are getting their shoes repaired and shined instead of buying new ones.

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