Excerpt from: US Markets
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| January 16, 2009 | | Bank news boosts Wall Street | Spread bets and CFDs should consider that the U.S. stock market is set to open higher today. The news from the banking sector is a big reason.
Both Bank of America and Citigroup plan to try to shore up their balance sheets. And the news from Bank of America, that the company is going to get billions from the government (courtesy of TARP), is also helping the perception of banks.
Whether or not this means nationalisation of U.S. banks remains to be seen, but for now the U.S. stock market is optimistic about the prospects of possible recovery.
| Topic Tags: bailout, Bank of America, CFDs, spread bets, spread bets stock market, TARP, U.S. stock market, U.S. stocks | |
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