Stocks rallied Thursday on the promise of more rate cuts from the Federal Reserve and a potential buyout of the nation's biggest mortgage lender.
Fed Chairman Ben Bernanke left little doubt that more rate cuts are on the way in a midday speech, and a Wall Street Journal report that Bank of America was in talks to acquire troubled mortgage lender Countrywide Financial sent stocks into overdrive before they pared their gains late in the day.
Term Securities Lending Facility: The New Scheme by Helicopter Ben ::
Mar 12, 2008 But stocks always behave impetuously. The stock market and the credit market are two different animals. It's too early to tell if banks will
http://www.dailyreckoning.com.au/term-securities-lending-facility/2008/03/12/HOME |
The tech sector ended the day up half a percent despite modest declines in big names like Microsoft, Intel, Apple, Google and Amazon.
AMD gained 8% on news of a New York antitrust investigation into rival Intel.
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Jul 9, 2008 Mr. Bernanke argued for a stronger central bank in a speech yesterday. . Claimants Against New York Get a Boost From Comptroller
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US Central Bank Chief Expects Economy to Slow::
Nov 8, 2007 U.S. central bank chief, Ben Bernanke, told a congressional He said the Federal Reserve will respond as needed to boost the economy.
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Yahoo and Logitech were up more than 6% each on speculation that they could be acquired by Microsoft.
E*Trade rocketed 22% on the Countrywide news.
Tellabs and Ciena were strong despite no apparent news.
It was the second straight day of gains for the stock market, following the Nasdaq's longest losing streak in 18 months.
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Jul 15, 2008 In mid-March, a major investment bank, The Bear Stearns Companies, . investment and hindering efforts to boost capacity and production.
http://www.federalreserve.gov/newsevents/testimony/bernanke20080715a.htmHOME |
Bernanke tries to settle nerves over economy, banks - Boston News ::
Jul 16, 2008 Bernanke tries to settle nerves over economy, banks. lines of credit to Fannie and Freddie and to let the government buy their stock.
http://www1.whdh.com/news/articles/business/BO82678/HOME |
The Nasdaq rose 14 to 2488, the S&P climbed 11 to 1420, and the Dow gained 117 to 12,853. Volume declined to 5.13 billion shares on the NYSE, and 2.67 billion on the Nasdaq. Advancers led by a 22-10 margin on the NYSE, and 18-12 on the Nasdaq. Upside volume was 78% on the NYSE, and 64% on the Nasdaq. New highs-new lows were 48-216 on the NYSE, and 63-315 on the Nasdaq.
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Banks, Bernanke Boost Stocks