xcel
10-13-2008, 05:09 PM
The eight-day losing streak ends Monday after central banks and governments announced measures to bolster the global financial system. (http://www.businessweek.com/investor/content/oct2008/pi20081013_728190.htm?chan=top+news_top+news+index+-+temp_top+story)
http://www.cleanmpg.com/photos/data/501/Stock_Market_Soars.jpgWill Andrews and Karyn McCormack – Business Week – Oct. 13, 2008
Two NYSE traders watching the historic positive close.
First good news in some time as Britain attempts to force US' hand wrt exec pay and bailout money to mortgage holders. -- Ed.
US Stocks hammered recently in one of the worst sell-offs ever, were soaring Monday afternoon as global central banks and governments moved over the weekend to shape a rescue plan for troubled banks and economies.
Treasury futures were skidding, indicating bond yields were rising in reaction to the central bank movements that appear to have relieved panic that prevailed last week. The bond market, U.S. banks and government offices were closed Monday for the Columbus Day holiday.
The dollar index was lower as the euro and pound sterling rallied on central banks' moves to inject huge amounts of cash into their banking systems. Gold futures were plunging on hedge fund selling. Oil futures were higher on hopes banking efforts will revive global economies and boost demand.
At the close Monday, the Dow Jones industrial average soared 938.89 points, or 11.11%, to 9,390.08 -- the biggest point gain ever and finally ending an eight-day losing streak. The S&P 500 index climbed 104.06 points, or 11.57%, to 1,003.28. The Nasdaq composite index rose 194.74 points, or 11.81%, to 1,844.25.
European indexes also rose sharply after the Asian market surged overnight… http://www.businessweek.com/investor/content/oct2008/pi20081013_728190.htm?chan=top+news_top+news+index+-+temp_top+story
http://www.cleanmpg.com/photos/data/501/Stock_Market_Soars.jpgWill Andrews and Karyn McCormack – Business Week – Oct. 13, 2008
Two NYSE traders watching the historic positive close.
First good news in some time as Britain attempts to force US' hand wrt exec pay and bailout money to mortgage holders. -- Ed.
US Stocks hammered recently in one of the worst sell-offs ever, were soaring Monday afternoon as global central banks and governments moved over the weekend to shape a rescue plan for troubled banks and economies.
Treasury futures were skidding, indicating bond yields were rising in reaction to the central bank movements that appear to have relieved panic that prevailed last week. The bond market, U.S. banks and government offices were closed Monday for the Columbus Day holiday.
The dollar index was lower as the euro and pound sterling rallied on central banks' moves to inject huge amounts of cash into their banking systems. Gold futures were plunging on hedge fund selling. Oil futures were higher on hopes banking efforts will revive global economies and boost demand.
At the close Monday, the Dow Jones industrial average soared 938.89 points, or 11.11%, to 9,390.08 -- the biggest point gain ever and finally ending an eight-day losing streak. The S&P 500 index climbed 104.06 points, or 11.57%, to 1,003.28. The Nasdaq composite index rose 194.74 points, or 11.81%, to 1,844.25.
European indexes also rose sharply after the Asian market surged overnight… http://www.businessweek.com/investor/content/oct2008/pi20081013_728190.htm?chan=top+news_top+news+index+-+temp_top+story