Los Angeles Times | October 28, 2008 | 1:05 p.m. PDT --- Dow jumps more than 900 points despite grim economic news Investors shrugged off downbeat reports on home prices and consumer confidence to fuel a late-session rally that pushed the Dow Jones industrial average up more than 900 points before a preliminary closing of 9,066, a more than 10% gain. - Layoffs, plunging home prices and tumbling investments pushed consumer pessimism to record levels in October. The Conference Board said the consumer confidence index fell to 38, down from a revised 61.4 in September and significantly below analysts' expectations of 52. - U.S. home prices continued to fall at a record-breaking pace in August, with the Los Angeles area posting among the sharpest declines, according to a prominent index. Los Angeles and Orange County home prices were down 26.7% in August compared with August 2007.
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