Saturday, February 23, 2008

Talk of bond insurer rescue spurs late stock rally (Reuters)



Traders work in the oil futures pit of the New York Mercantile Exchange in New York, February 22, 2008. Oil rose to near $99 a barrel on Friday as an incursion into Iraq by Turkish troops and cold weather in the U.S. Northeast outweighed concerns about mounting problems in the U.S. economy. REUTERS/Brendan McDermid (UNITED STATES)Reuters - U.S. stocks rallied late on Friday on
news that banks were near an agreement to bail out bond insurer
Ambac Financial, a deal that could prevent further damage to
the banking industry and credit markets.




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