Word: monday
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...settle for that. After last week's losses wiped between 15% to nearly 25% of value off indices around the globe, formerly freaked traders scurried to buy back stocks as slow-moving political leaders responded in union to address the credit crisis. Outdoing Wall Street's 11% romp on Monday, the Nikkei shot up 14.2% Tuesday - an all-time record - making up for lost time after Monday's national holiday. But other Asian indices continued their previous climbs as well. Hong Kong's Hang Seng was up 3.2% over its 10.5% push Monday, while trading in Australia nudged 3.3% higher...
...Monday's global rally was ascribed to weekend announcements by the G-7 and agreements by the 15 nations that use the euro to intervene in the crisis with huge financial assistance, Tuesday's repeat came as those measures were backed up by actual figures in both Europe and the U.S. In Paris on Monday, French President Nicolas Sarkozy pledged $488 billion to underwrite loans between banks and inject capital into troubled banks and financial groups. Similarly, German Chancellor Angela Merkel said up to $651 billion would be used for similar uses - though primarily limited to underwriting lending between banks...
...Monday, Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and FDIC chairwoman Sheila Bair announced a widely expected effort to inject $250 billion in government funds into the troubled U.S. banking system. The goal: to get banks lending again and keep the economy from grinding to a halt. The funds will come out of the $700 billion bailout package already passed by Congress...
...that thousands of companies are moved by the same forces, and those forces create a cohesive narrative. In recent days, that premise hasn't been quite as far-fetched. As credit markets seized and governments the world round rushed in to prop up financial institutions, investor panic - and, on Monday, euphoria - swept aside most other concerns about companies' fundamentals. "It was indiscriminate selling," says Art Hogan, chief market analyst at Jefferies & Co. of last week's market activity. "It didn't matter what your company did. It was everything for sale...
...ratings are so low that you can almost picture the First Dog, Barney, barely able to muster a single wag of his pointy black tail when the Commander-in-Chief strides into the White House living room. So it seemed auspicious that rolling up to the South Lawn on Monday was the man who might just be President Bush's Last Best Friend on Earth. Italian Prime Minister Silvio Berlusconi arrived in Washington just in time for Columbus Day, and just in time to say what almost no other political figure would venture to say out loud right...