As Wall Street prepares for another week, traders are hoping for more of the same from the past two weeks where indexes have seen continuous gains.
Early Monday, US stock futures saw a sharp boost with the ET, the Dow Jones, the Standard & Poor, and Nasdaq’s futures are all up. Investors remain optimistic about the government’s plan to help out private investors by getting rid of as much as $1 trillion in bad assets.
Markets all over the world are also helped by the positive news.
Stocks around the world rallied on the U.S. government’s latest efforts to bolster the financial sector. Japan’s Nikkei gained 3.4% while the Hang Seng in Hong Kong surged 4%. In Europe, the FTSE 100 added 1.4% in early trading. The CAC-40 in France and Germany’s DAX were also both up more than 1%
The administration announced that it will commit as much as $100 billion to clear so-called toxic assets to further strengthen the banking sector.
Source: CNN
