Geithner detoxification sparked euphoria

The Dow Jones rose in early trade by 3% to 7490 points. The Nasdaq composite also moved up 3%, and the broad market S & P 500 climbed 2.7%. This recovered the U.S. stock markets from their Friday losses.

Why were plans by the U.S. government, which arg beleaguered U.S. banks from their bad loans to be exempt. Those worth around $ 1 trillion. The Ministry of Finance Timothy Geithner presented on Monday the long awaited details on dealing with those rotten securities that banks forced to write-offs have billions. The Government wants the public-private acquisition program initially with 75 to 100 billion dollars up: – the rest is done afterwards.

From the message profited mainly shares of banks in the course of the crisis had particularly suffered. Citigroup rose on the weekly entry by 17%, Bank of America provided 15%.

Company News came the stock markets to benefit: The paper by Tiffany & Co. to be presented after the jeweler’s chain, the market with its quarterly profit was positively convinced. Quarterly figures also helped Walgreen shares jumps on the force. The titles of the U.S. retail chain was around 8% plus.