A toxic asset plan peppered with positive housing news made for a great start to the week.
Wall Street soared after the Treasury revealed its plan to use government and private resources to buy up to $1 trillion in risky assets from troubled banks. Markets jumped more than 5%, indicating that investors view the plan as a positive step toward stabilizing the financial system.
In housing news, sales of previously occupied homes jumped 5.1% in February, according to National Association of Realtors. The news helped push markets up despite data showing that the median sales price dropped a staggering 15.1% from the previous year.
Market gains were broad-based. Outside of bank and housing stocks, big movers for the day included American Express(AMEX Quote), Boeing(BA Quote) and Alcoa(AA Quote). ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,452.68 | 1,109.24 | 2,185.03 | 33.23 |
Oil *
77.73
|
|
DOWN
18.90
|
UP
0.38
|
UP
9.22
|
UP
0.48
|
10 Yr
3.32%
SPDR Gold
119.18
|
|
-0.18%
|
+0.03%
|
+0.42%
|
+1.47%
|
Data delayed 20 minutes |


Connect with TheStreet