Markets Respond
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Shows what a little bit of confidence can bring:
Stocks made a late-session push at the end of a tough session Friday, with bank stocks rising as investors bet that some form of the proposed $700 billion bank rescue plan will go through, despite the current gridlock.
Credit markets remain stressed, but eased slightly from Thursday. Oil prices fell and gold prices rose. The dollar was weaker versus other major currencies.
The Dow Jones industrial average (INDU) gained 120 points, or 1.1%, according to early tallies, thanks to a rally in in its bank and consumer stocks. The bank stocks in particular have seen a battering of late amid the financial crisis.
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