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Markets Rise as Credit Eases

Volatility probably ahead; oil prices up, too

By Kevin Spak, Newser Staff

Posted Oct 20, 2008 8:46 AM CDT

(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. (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. (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. (AP Photo)

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Markets Rise as Credit Eases

Volatility probably ahead; oil prices up, too

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stock market • Dow Jones • markets • AIG • credit market • oil prices • Libor • financial crisis • NRG • Exelon

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Dow Drops 300+ Points

Investors worried about Europe again

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And stocks could 'soar': David Kotok

Dow Down 100 at Open

S&P 500, Nasdaq follow suit

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S&P, Nasdaq follow suit

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S&P 500, Nasdaq also rise

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Markets Rise as Credit Eases

Volatility probably ahead; oil prices up, too

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OTHER STORIES ON OUR RADAR

stock market • Dow Jones • markets • AIG • credit market • oil prices • Libor • financial crisis • NRG • Exelon

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Dow Drops 300+ Points

Investors worried about Europe again

When Gadhafi Falls, Oil Prices Will Fall With Him

And stocks could 'soar': David Kotok

Dow Down 100 at Open

S&P 500, Nasdaq follow suit

Dow Plunges 480+, Below 11K

S&P, Nasdaq follow suit

Dow Rises 100+ on Retail Sales Report

S&P 500, Nasdaq also rise

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?