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Treasury Secretary Timothy Geithner told a Senate panel that financial markets are "starting to heal" and that a program to remove toxic assets from bank balance sheets would begin in the next six weeks.
General Motors [GM 1.45 0.18 (+14.17%) ] was the biggest percentage gainer on the Dow, up 14 percent, after the automaker said it's expecting three offers for its German Opel unit.
Originally posted by Rockpuck
Jesus christ I swear to god I am SICK of my articles disappearing while I type my posts! Wasn't even 3 mins and I go back to the story and it's gone..
Standard & Poor's cuts U.K. outlook to negative
May 21, 2009, 4:36 a.m. EST
LONDON (MarketWatch) -- Standard & Poor's cut its credit-rating outlook on the U.K. to negative from stable though it affirmed the country's AAA sovereign credit rating. "We have revised the outlook on the U.K. to negative due to our view that, even assuming additional fiscal tightening, the net general government debt burden could approach 100% of GDP and remain near that level in the medium term," Standard & Poor's credit analyst David Beers said. "We base our opinion on our updated projections of general government deficits in 2009-2013. These projections reflect our more cautious view of how quickly the erosion in the government's revenue base may be repaired, the extent to which the growth in government spending can be curtailed, and consequently the pace at which historically high fiscal deficits are likely to narrow."
Originally posted by Hx3_1963
S&P 500 -5.90 894.00 5/21 5:20am
Fair Value 902.14 5/20 10:11pm
NASDAQ -5.75 1386.75 5/21 4:42am
Fair Value 1393.31 5/20 10:11pm
Dow Jones -42.00 8353.00 5/21 5:13am
U.S. stock futures fell Thursday, dragged lower by ongoing concerns about the economic outlook.
At 5:15 a.m. ET, Dow Jones industrial average, S&P 500 and Nasdaq 100 futures were lower.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.
U.S. stocks finished Wednesday's session lower after the Federal Reserve issued a gloomy forecast for the economy.
Economy: Investors will digest a number of economic reports Thursday. At 8:30 a.m. ET, the Labor Department's weekly report on jobless claims comes out.
A report on leading economic indicators comes out at 10 a.m. ET. A survey of regional manufacturing activity also comes out then.
What do you think, Hex? You would take Iwo Jima in two days with armament like that? Huh?
May 21 (Bloomberg) -- Britain may lose its AAA credit rating for the first time as government finances deteriorate in the worst recession since World War II.
Standard & Poor’s lowered its outlook on Britain to “negative” from “stable” and said the nation faces a one in three chance of a ratings cut as debt approaches 100 percent of gross domestic product. The pound fell the most in four weeks against the dollar, the FTSE 100 Index slid as much as 2.8 percent and the cost of insuring U.K. debt against default rose.
The weakness of the companies was underscored by their most recent quarterly reports. In the first four months of 2009, Fannie Mae has lost $23.2 billion while Fannie Mae reported a quarterly loss of $9.9 billion.