Tuesday, September 30, 2008

U.S. Stock Futures Rally on Speculation Rescue Plan Will Pass – Bloomberg.com

by Bharat Mudgal 0 comments



Share this post:
Design Float | StumbleUpon | Reddit

Source - http://www.bloomberg.com/apps/news?pid=20601087&sid=aee97F4m7GEE&refer=home

Sept. 30 (Bloomberg) -- U.S. stock futures rose, signaling the Standard & Poor's 500 Index may rebound from yesterday's 8.8 percent plunge, after lawmakers said they intend to salvage a $700 billion bank-rescue package.

JPMorgan Chase & Co. jumped 9.2 percent and Citigroup Inc. added 5 percent in European trading as Judd Gregg, the Senate Banking Committee's ranking Republican, and Barack Obama, the Democratic presidential candidate, said a deal would eventually pass. Christopher Dodd, chairman of the banking committee, said senators may deal with the bill tomorrow.

``The U.S. knows the gravity of the situation and a plan will be reached to save their financial institutions,'' said Masahiko Ejiri, who helps manage about $30 billion at Mizuho Asset Management Co. in Tokyo. ``I am relatively comfortable in investing in some of the winners of the U.S. financial turmoil like JPMorgan.''

Read Furhter at source…

Comments 0 comments

Bharat Mudgal
Analyst, stockMode Networks
India
bharatmudgal@stockMode.com

Subscribe feeds via e-mail

Enter your email address:

Delivered by FeedBurner

Subscribe in your preferred RSS reader

Subscribe feeds rss Recent Entries

Advertise on this site Sponsored links

Categories

Labels

Sponsored Links

My Photos on flickr

Subscribe feeds rss Recent Comments

Technorati

Technorati
My authority on technorati
Add this blog to your faves