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Reply #1: U.S. Stocks Gain, Extending Global Rally; Yahoo climbs. [View All]

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chill_wind Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-28-09 12:14 PM
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1. U.S. Stocks Gain, Extending Global Rally; Yahoo climbs.


U.S. Stocks Gain, Extending Global Rally, on ‘Bad Bank’ Plan


By Cordell Eddings

Jan. 28 (Bloomberg) -- U.S. stocks rose, extending a global rally, as President Barack Obama prepared to set up a so-called bad bank to absorb toxic investments and Yahoo! Inc. and Germany’s SAP AG reported better-than-estimated earnings.

Citigroup Inc. and Bank of America Corp. surged more than 16 percent after a White House official said Obama’s team may announce the outlines of its plan next week. Deutsche Bank AG and Barclays Plc added at least 19 percent in Europe, while Mitsubishi UFJ Financial Group Inc., Japan’s biggest bank, advanced 1.2 percent. Yahoo and SAP, the largest maker of business-management software, climbed at least 6.6 percent. The dollar and yen weakened as investor appetite for risk grew.

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More: http://www.bloomberg.com/apps/news?pid=20602002&sid=amsH7n4KAZzI&refer=markets
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