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THURSDAY, NOVEMBER 26, 2009
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Markets Rise as Credit Eases

Volatility probably ahead; oil prices up, too

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(Newser) – Stocks rose at the open today, as investors saw signs the credit markets are easing, the Wall Street Journal reports. The Dow rose 104 points, while the Nasdaq and S&P saw modest 1.5% and 1.2% bumps, respectively. Stocks in Europe and Asia generally rose as well. We could be “near the end of a very extreme panic,” one analyst said said, thanks mainly to government action.

The overnight lending rate tumbled to 1.5125% from Friday’s 1.66875%, bringing it within a whisker of the Fed’s 1.5% target. Oil rose $1.68, to $73.81 a barrel. Among US stocks, AIG rose 8.1% pre-market on reports that Prudential PLC might buy its Asian operations, while NRG energy jumped 27% on reports Exelon was attempting to buy it for $6.2 billion.

Specialists George F. Moerler, right, accompanied by a Broker, left, watch the monitor as they work on the trading floor at the New York Stock Exchange, Oct. 17, 2008.
Specialists George F. Moerler, right, accompanied by a Broker, left, watch the monitor as they work on the trading floor at the New York Stock Exchange, Oct. 17, 2008.   (AP Photo)
Brokers and specialists look at the monitor as the closing bell to rings on the trading floor at the New York Stock Exchange on Friday.
Brokers and specialists look at the monitor as the closing bell to rings on the trading floor at the New York Stock Exchange on Friday.   (AP Photo)
Keith P. Davidson, left, Specialist of General Motors stock, works his post on the trading floor at the New York Stock Exchange, Oct. 17, 2008.
Keith P. Davidson, left, Specialist of General Motors stock, works his post on the trading floor at the New York Stock Exchange, Oct. 17, 2008.   (AP Photo)
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