U.S. stocks up as Bush offers help to troubled home owners

11:51 am ET Aug 31, 2007

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U.S. stocks up as Bush offers help to troubled home owners

NEW YORK
U.S. stocks climbed Friday as investors bypassed a slew of economic data
to focus on separate speeches by President Bush and Federal Reserve
Chairman Ben Bernanke, with the latter not saying anything to dissuade
investors from believing that cuts in interest rates are ahead.

The Fed: Bernanke to market: Fed is on the ball

JACKSON HOLE, Wyo.
The Federal Reserve is prepared to act as needed to prevent turmoil in
global financial markets from gathering enough strength to hurt the U.S.
economy, Fed chief Ben Bernanke vowed Friday.
Bush to offer proposals to stem mortgage crisis: reports

WASHINGTON
The Bush administration proposes to expand the role of the federal
government to stem a wave of mortgage defaults, according to published
reports.

Economic Report: Inflation remains moderate in July; incomes strengthen

WASHINGTON
Inflation remained cool while household incomes and spending
strengthened in July, before market turmoil in August shook Wall Street
and Federal Reserve policymakers.

Troubled housing market looks to Washington

WASHINGTON
As foreclosures rise and sales of existing homes fall, lawmakers and
regulators alike are feeling intensified pressure to do something fast
to help homeowners and contain the subprime-mortgage crisis.