Dow Licks Wounds, Rises Above 11K

After yesterday's beating, the Dow opened with cautious optimism, up about 137 points to 10,947—and it has inched above the 11,000 mark since then. As of 10:40am EST, it was up 215 points to 11,025. The Nasdaq opened up 41, and the S&P 500 followed suit, up 16. All eyes are on the Fed's meeting today, which many are speculating could include new steps to promote growth. One equity strategist wasn't optimistic before the bell, saying there's an air of "extreme fear" on Wall Street. "We had a nightmare situation that developed yesterday," he said.

Market indicators fluctuated wildly before the bell, after yesterday's mammoth sell-off. As of 8:56am, Dow futures were up 167 points, but they'd swung more than 300 points in both directions in earlier trading, according to MarketWatch. (More stock market stories.)