Reached agreement in Congress about a stimulus plan of 789,000 million
| Date: February 11, 2009 | Source: Reuters |
| Category: Bags and Markets | |
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Loading ... The New York Stock Exchange today ended with a gain of 0.64% in the Dow Jones industrials, after an agreement was reached in Congress on a stimulus plan of 789,000 million dollars. This stock index, which includes some of the largest U.S. companies rose 50.65 points to 7939.53 units and was.
The Nasdaq rose 0.38% (5.77 points) to 1,530.50 and the entire S & P 500 gained 0.8% (6.58 points), to 833.74.
The New York market had a day much less hectic than the previous day and the major stock indexes managed to hold in positive territory until the close as investors watch for news from Washington.
There, eight chief executives of some of the biggest U.S. banks appeared before a committee of the House of Representatives, while Treasury Secretary Timothy Geithner went before another Senate to discuss new plan to stabilize the financial system .
Meanwhile, Democratic and Republican leaders in Congress were trying to iron out differences over the two versions of an economic stimulus and jobs that had previously passed the Senate and House of Representatives, in order to harmonize initiatives in a single text that can be voted on in both houses soon and be present after President Barack Obama.
The leader of the Senate Majority Leader Harry Reid announced that he had finally been possible agreement on a project "that creates more jobs than the Senate version spends less money and in Congress."
That commitment in Washington contributed to strengthen the moderate upward trend that had prevailed on the NYSE after the severe correction of the previous day.
The bankers who came to Washington today, including the CEOs of Citigroup , Vikram Pandit, of JPMorgan Jamie Dimon, and Goldman Sachs Lloyd Blankfein, assured lawmakers that they are granting more loans after receiving public funds and pledged to restore financial sector stability.
The Treasury secretary, meanwhile, defended in the Senate the lack of precision regarding the implementation of some measures included in the financial system plan submitted on Tuesday and said he did not want the mistakes of the past few months with hasty decisions.
The private sector participation on task to purge bank balance sheets of assets that affect their liquidity and their accounts, and how they valued these securities backed by mortgages and other troubled loans are some issues that need clarity, according to experts.
On the economic front, it was learned today that the U.S. trade deficit with the outside world fell by 3.3% throughout 2008 and in December fell 3.9% from the previous month, according to the Commerce Department.
The price of a barrel of Texas crude fell by 4.3% to close at the New York Mercantile Exchange at $ 35.94, which helped shares of Exxon Mobil to depreciate by 2%, to 74.58 dollars, among other companies in the sector.
The public debt rose to ten years of price and yield stood at 2.75%. MarketWatch
