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Top 10 stocks by % chg today Bank of Am 7.80 +26.01% JPMorgan Chase 28.86 +24.67% Citigroup 3.13 +19.47% American Express 14.56 +18.76% Alcoa 7.40 +13.15% Caterpillar 29.63 +9.46% General Electric 10.43 +9.33% Boeing 35.50 +9.06% Walt Disney 18.92 +8.42% Hewlett-Packard 31.19 +8.11% Bottom 10 stocks by % chg today General Motors 3.35 +5.35% Verizon Comms 31.07 +4.93% Home Depot 23.25 +4.92% Procter 47.74 +4.72% Merck 27.98 +4.72% Wal-Mart 51.48 +3.81% McDonald's 55.16 +3.68% Coca-Cola Co 44.14 +3.52% Johnson&Johnson 53.23 +3.02% Pfizer 14.02 +2.86%
NEWS - Obama admin offers raft of incentives for private investors to help rid banks of up to $1 trillion in toxic assets - Millions of people will be pushed back into poverty as econ crisis spreads to developing countries, IMF chief warns - Trade volumes will fall 9 percent this year, strongest contraction since World War Two, as demand collapses, WTO says - China promises to keep buying U.S. government debt and offers to help fund IMF bailouts for stricken countries - Sales of previously owned U.S. homes rise at fastest pace in nearly six years in Feb, offering some hope to the economy MARKETS - US stocks surge around 7 pct after Obama admin details plan to purge bad assets from bank balance sheets. Dow up 497.48 pnts - European shares rise to highest close in more than a month. Nikkei up 3.4 percent, highest close in seven weeks - Dollar, yen fall as investors reduce safe-haven bids after U.S. unveils to unlock toxic assets from banks' balance sheets - Oil prices at highest level in nearly 3 mos, U.S. asset plan triggers stock rally and brightens outlook for energy demand - U.S. Treasuries fall after stocks higher on news of a govt plan to purge banking sector of bad assets QUOTES "The great risk that we face now is that after a long period of irresponsibility and excessive risk-taking, that the system will not take enough risk now." - U.S. Treasury Secretary Timothy Geithner. "The plan seems to offer little incentive for private investors to participate unless the subsidy is made so rich that it comes at the expense of the taxpayer." - Representative Eric Cantor of Virginia, a member of the House of Representatives Republican leadership. "Even for a bear market rally this is explosive, and frankly it's jaw-dropping. - Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey. "Bluntly the situation is dire. All this will affect dramatically unemployment and beyond unemployment. For many countries it will be at the roots of social unrest, some threat to democracy, and maybe for some cases it can also end in war." - IMF Managing Director Dominique Strauss-Kahn. "Investing in American Treasuries, as an important part of our foreign exchange reserve management, will continue." - Hu Xiaolian, a vice governor of the People's Bank of China. DIARY (all times GMT) TUESDAY, March 24 WASHINGTON - Obama holds televised news conference at 8 p.m. EDT (0000 GMT). WASHINGTON - US House Financial Services Committee holds a hearing with Geithner and Bernanke testifying about AIG's payment of retention bonuses. WASHINGTON - US House Financial Services Committee to consider legislation to prohibit bonus payments by companies who have received government bailout funds. TOKYO - BOJ to publish minutes of Feb. 18-19 monetary policy meeting. หวัดดีครับ
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