U.S. shares of the green, S&P 500 by 10 percent weekly rise
U.S. shares rose more expensive, thus their weekly growth rose by the largest since 1974 after JPMorgan Chase acted to deal with problematic mortgages, interbank interest rates decreased and the profits of companies outside the financial sector grew four times faster than in the previous quarter.
Shares of JPMorgan Chase gained 9.7 percent after the bank said that mortgage none of the customers of the bank not declared overdue in the next 90 days while the company did not find a way to facilitate payments on their mortgages problem worth 110 billion dollars.
Bank, which two weeks ago received a capital injection of 25 billion dollars of government loans will investigate and may reach an agreement to reduce the interest or the amount of principal. Furthermore, will be open 24 advisory centers in regions of high levels of default.
It is expected that the program JPMorgan to help 400 thousand households with loans totaling 70 billion dollars over the next two years. Other 250 thousand families with mortgages totaling 40 billion dollars have already been supported by existing programs to change the terms of the loans.
The index Standard & Poor’s 500 increased by 1.5 percent to 968.75 points, Dow Jones Industrial Average added 1.6 percent to 9325.01 points, while Nasdaq - 1,3 percent to 1720.95 points.
Growth of S & P 500 by 10 percent this week, however, is not sufficient to offset the loss from the beginning of the month following the signals continuing deterioration of the global economy and the freezing of credit markets. The fall of the benchmark for October amounted to 17 percent, which is the biggest monthly drop in 1987
Shares of the week - storms Wells Fargo & Co. U.S. shares erased their initial gains. The outlook for long-term credit rating of Russia is “negative” and Gold-currency reserves of Russia decreased by 50 billion dollars The U.S. government is considering acquiring shares of insurers Dow Jones wiped their initial gains Oil ended the week with a drop of over 11 percent Exchanges in Asia red again. New bankruptcy among Japanese companies in construction sector and lower ratings representatives of regional economy High jump in the markets in the U.S. with substantial growth Merrill Lynch strongly disappointed investors off assets for $ 9.4 billion dollars Another bank failure in U.S. The Bank Silver State closed its banking business Google disappoints the market despite the 35% growth in profits for quarter Rescue plan for the economy of Australia Another 62 thousand Americans without job in June, unemployment was 5.5 percent The quality of loans in Eastern Europe deteriorate World Bank gives USD 100 billion to developing markets Australia with the weak economic growth of eight years Consecutive decline in U.S. stock, S&P 500 also enters in Bear Market The data on employment pressed U.S. state indices, the serial drama data on the labor market in the U.S. Mass panic scope and exchanges in Eastern Europe The Federal Reserve reduced the basic rate Red start of the month for Asian markets Fifth consecutive decline for exchanges in Asia The euro board to new peaks PricewaterhouseCoopers (PwC) aims to sell assets of Lehman in Europe to days Strong data on the labour market in Germany Price of oil will not stop - marks a record after record McCann against Obama - how will affect the economy Unexpected rise in Swedish retail Middle East oil fell to 122.10 dollars for a barrel USA: The biggest bank failure in 24 years Bernanke: Inflation will be reduced Daimler refuses to buy Chrysler Lehman Brothers bankruptcy Merrill Lynch sold her share in Bloomberg Bought Subdivisions and of Lehman in Europe and the Middle East Oil remained at low levels to the limit of 100 dollars Online web searches in October Again bank failure in U.S. Housing in Moscow more expensive by over 25% in first half of year Over 80 percent of Russian companies feel threatened by financial crisis Robert Peston The price of oil to a record for the last 17 years fall The euro fell against the U.S. dollar. Avoid the currencies set a high income under pressure Serial record for price of crude oil ProCredit Bank negotiated a new credit line Bank-to-bank lending eases Bank for International Settlements: Economic growth must be sacrificed in the fight against inflation Central bankers: Asia deal with crisis Auctions of stock and commodity markets have supported gold G-20 will decide on coordinated stimulate the world economy New bond issue worth 10 million start HypoCredit, mortgage markets and housing loansTags: bank, benchmark, companies, credit markets, dollars, economy, financial sector, interest rates, loans, mortgage, profits, S&P, shares
