RelatedQuotesAXPBABACCSTTSymbolPriceChange17.81+1.1343.92+0.707." />

亚洲免费在线-亚洲免费在线播放-亚洲免费在线观看-亚洲免费在线观看视频-亚洲免费在线看-亚洲免费在线视频

Stocks jump on reports of plan for bad bank

系統 1745 0

NEW YORK (AP) -- Financial stocks led Wall Street higher Wednesday on investor hopes the Obama administration will create banks to absorb the bad assets weighing down the financial system.

<!---->

Related Quotes

AXP BA BAC C STT Symbol Price Change
17.81 +1.13
43.92 +0.70
7.67 +1.17
4.27 +0.72
25.91 +6.29
{"s" : "axp,ba,bac,c,stt","k" : "c10,l10,p20,t10","o" : "","j" : ""}
<!---->

The Standard & Poor's 500 index, a benchmark for the overall stock market, rose for the fourth straight session. It hasn't closed higher four straight days in two months.

Investors have been worrying that banks won't be able to resume more normal lending without somehow dumping or walling off the bad debt that is corroding their balance sheets. And the economy can't recover from a yearlong recession without improvements in lending and consumer confidence.

Bank shares jumped on the news: Wells Fargo & Co. gained 24 percent, Citigroup Inc. jumped 22 percent and Bank of America added 18 percent.

Investors are also more upbeat as the House nears a vote on an $825 billion stimulus plan that contains a mix of new spending and tax cuts. Wall Street is hopeful the stimulus and other measures will help free the economy from its worst recession in decades.

Wall Street's focus on Washington also extends to the Federal Reserve, which is all but certain to leave its federal funds rate at a record low Wednesday to try to help the economy by making it cheaper to borrow money.

It's unclear whether the central bank might take any new steps to help the economy, however. In December, the Fed took the unprecedented step of slashing its key rate from 1 percent to a range of zero to 0.25 percent. The Fed's statement announcing any actions, and its assessment of the economy, is due at 2:15 p.m. EST.

Bill Dwyer, chief investment officer at MTB Investment Advisors in Baltimore, said any steps Washington can take to revive the economy could help the market. He said the plan to help neutralize bad bank assets could speed a recovery.

"We aren't really going to see any great economic news anytime soon so if there is any positive movement in Washington toward the problem, that would stabilize the decline," he said.

In late morning trading, the Dow Jones industrial average rose 135.56, or 1.66 percent, to 8,310.29.

Broader stock indicators also rose. The S&P 500 index jumped 21.32, or 2.52 percent, to 867.03. The index last recorded four straight gains in late November.

The Nasdaq composite index rose 39.79, or 2.64 percent, to 1,544.69.

The Russell 2000 index of smaller companies rose 11.32, or 2.48 percent, to 466.86.

The number of stocks rising outpaced those that fell by 6 to 1 on the New York Stock Exchange, where volume came to 375.1 million shares.

Bond prices fell as stocks gained. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.55 percent from 2.53 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.15 percent from 0.13 percent Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude slipped 2 cents to $41.56 a barrel on the New York Mercantile Exchange.

The advance in financial stocks gave support to the overall market. CNBC reported Tuesday that the Obama administration is considering a plan to buy bad assets.

Wells Fargo jumped $3.92, or 24 percent, to $20.11 after the company said it would maintain its dividend. The company reported results that included write-downs to reduce is exposure to the risky assets of Wachovia Corp. Wells Fargo also added to its reserves for future losses. The company acquired Wachovia on Dec. 31.

Other banks charged higher on the notion that Washington could vacuum up some of their bad debt. Citigroup Inc. rose 77 cents, or 22 percent, to $4.32, while Bank of America Corp. rose $1.16, or 18 percent, to $7.66. State Street Corp. surged $5.82, or 30 percent, to $25.44.

Some analysts attributed the run-up in banks partly to investors buying up those stocks to cover bets they made. Investors who sell a stock "short" are betting a stock would fall. They are forced to step in and buy the stock if it appears they were wrong and could lose money. This buying, in turn, can drive stocks higher.

Investor sentiment has been buoyed this week by somewhat improved corporate results. After weeks dominated by terrible results from the banking industry, investors have welcomed news that some companies were still able to gather profits in the final three months of 2008 despite the weak economy. Companies from United States Steel Corp. to American Express Co. turned in earnings that helped lift stocks moderately Tuesday.

On Wednesday, airplane maker Boeing Co. rose $1.10, or 2.6 percent, to $44.32 after reporting it swung to a fourth-quarter loss because of a labor strike and charges related to its 747 passenger jet and a legal reserve.

Investors didn't like all of the numbers. AT&T said its fourth-quarter earnings fell 23.6 percent as rising costs offset strength in its wireless business. The stock fell 68 cents, or 2.6 percent, to $25.25.

Overseas, Japan's Nikkei stock average rose 0.56 percent. In afternoon trading, Britain's FTSE 100 rose 2.28 percent, Germany's DAX index jumped 4.47 percent, and France's CAC-40 rose 4.06 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

Stocks jump on reports of plan for bad bank assets


更多文章、技術交流、商務合作、聯系博主

微信掃碼或搜索:z360901061

微信掃一掃加我為好友

QQ號聯系: 360901061

您的支持是博主寫作最大的動力,如果您喜歡我的文章,感覺我的文章對您有幫助,請用微信掃描下面二維碼支持博主2元、5元、10元、20元等您想捐的金額吧,狠狠點擊下面給點支持吧,站長非常感激您!手機微信長按不能支付解決辦法:請將微信支付二維碼保存到相冊,切換到微信,然后點擊微信右上角掃一掃功能,選擇支付二維碼完成支付。

【本文對您有幫助就好】

您的支持是博主寫作最大的動力,如果您喜歡我的文章,感覺我的文章對您有幫助,請用微信掃描上面二維碼支持博主2元、5元、10元、自定義金額等您想捐的金額吧,站長會非常 感謝您的哦!!!

發表我的評論
最新評論 總共0條評論
主站蜘蛛池模板: 国产探花在线观看 | 久久这里只精品国产99热 | 四虎最新永久免费视频 | 大杳焦伊人久久综合热 | 久久这里只有精品免费的 | 今天的恋爱未删减在线观看 | 色成年激情久久综合 | 91尤物在线视频 | 亚洲精品无人区一区二区三区 | 久久香蕉精品 | 色综合色狠狠天天久久婷婷基地 | 亚洲精品一区二区观看 | 国产成人一级 | 九九在线精品 | 欧美乱妇高清无乱码视频在线 | 91亚洲欧美 | 欧美毛片免费 | 91久久澡人人爽人人添 | 久久99亚洲精品久久频 | 欧美亚洲高清 | 欧美日韩色黄大片在线视频 | 欧美一区二区影院 | 精品国产免费福利片 | 久久99国产这里有精品视 | 青青青永久免费视频 | 亚洲欧美日韩在线一区二区三区 | 青青久在线视频免费视频 | 日日噜噜夜夜狠狠久久丁香 | 91九色露脸| 久久国产色| 天天操穴 | 免费人成在线观看69式小视频 | 久久免费精品视频在线观看 | 欧美精品亚洲精品 | 四虎地址8848 | 国产高清国内精品福利色噜噜 | 精品国产免费人成高清 | 9999热视频 | 男女91视频| 亚洲美女免费视频 | 亚洲国产精品视频 |