US markets join the Fannie & Freddie bailout party, Fannie Mae fell 90% & Freddie fell 83%. Homebuilding sector rallied 11.5%, building products 8.5% & home improvement retail 5.5% in US markets.
Crude oil settled nearly unchanged at $ 106.2/bbl; hit a high of $ 108/bbl in earlier trade on speculation of Hurricane Ike's potential impact on Gulf of Mexico production. OPEC Meet Today, expected to discuss an output cut. Gold down $ 10 at $ 806/ounce. Yen appreciates by 1.26% at 107.45.
Dow Jones advanced 289.78 points, or 2.58%, to 11,510.74. The S&P 500 index rose 25.48 points, or 2.05%, to 1,267.79, and the Nasdaq composite index gained 13.88 points, or 0.62%, to 2,269.76.
Tuesday, September 9, 2008
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