Stocks rally loses steam as financials lead decline

Date: Fri, 18 Jan 2008 17:06:07 (GMT)

Stocks rally loses steam as financials lead decline

U.S. stocks on Friday erased early gains, with financials weighing on
the market as new concerns about bond insurers overtook cheer that came
with solid quarterly results from International Business Machines Corp.
and General Electric Co.

Bid for U.S. economic stimulus gains crucial support

Prospects for an economic stimulus package brightened Thursday as
President Bush, Ben Bernanke and top congressional leaders all called
for Washington to act quickly to boost the economy.

General Electric infrastructure lifts quarterly profits by 4%

NEW YORK
Solid growth in its infrastructure arm helped General Electric Co.'s
fourth-quarter profit rise 4% and should help the industrial
conglomerate grow further this year.

Mortgage lenders point to efforts to fend off foreclosures: MBA

CHICAGO
As the rate of home foreclosures hit record highs in the third quarter,
mortgage lenders say they worked on loan modification and repayment
plans for more than 235,000 borrowers that quarter alone, the Mortgage
Bankers Association reported Thursday.

We spent rebates in 2001, but times are different now

CHICAGO
If history repeats itself, Federal Reserve Chairman Ben Bernanke is
right: Give consumers a sizable tax rebate check and they will mostly
take the money and run, spending those dollars and pumping energy into
the economy.