Friday, August 31, 2007
U.S. stocks finish higher as Bernanke, Bush calm market
DJIA
13,357
+119.01
S&P
1,473
+16.35
NASDAQ
2,596
+31.06
10Yr
4.54%
+0.035
U.S. stocks finish higher as Bernanke, Bush calm market
NEW YORK
U.S. stocks ended higher Friday, buoyed by a proposal by President Bush
to help subprime homeowners and a speech by Federal Reserve Chairman Ben
Bernanke, who did not dispel beliefs that a rate cut will come in
September.
FHA plan part of historical mission
WASHINGTON
The president's proposal Friday to allow more troubled borrowers to
refinance with Federal Housing Administration-insured loans will push
the agency to fulfill its historical mission and try to keep a bad
situation from getting worse, experts said.
The Fed: Bernanke says policy-makers paying 'close attention' to market
JACKSON HOLE, Wyo.
The Federal Reserve is prepared to act as needed to prevent turmoil in
global financial markets from gathering enough strength to hurt the U.S.
economy, Ben Bernanke said Friday.
Bush offers proposals to stem mortgage crisis
WASHINGTON
The White House is proposing to expand the role of the federal
government to stem a wave of mortgage defaults, President Bush said
Friday, unveiling a series of steps including allowing refinancing into
government-insured mortgages.
Apple to pull NBC shows from iTunes, citing price dispute
SAN FRANCISCO
In a move that illustrates the growing tension between Hollywood and
Apple Inc., the iconic consumer electronics company confirmed Friday
that it will pull shows from NBC off its popular iTunes online store due
to a dispute with the network over pricing.
