U.S. stocks end sharply higher as credit markets improve

Date: Mon, 20 Oct 2008 17:03:18 -0400
U.S. stocks end sharply higher as credit markets improve

U.S. stocks extend their gains, with energy shares paving the climb
higher after Fed Chairman Ben Bernanke backed more fiscal stimulus and
investors digested earnings reports from various sectors.

Governments' actions will stabilize banking industry, S&P says

Government actions around the world should stabilize the banking
industry and unfreeze debt markets, Standard & Poor's said Monday.

Treasury's Paulson tells banks to lend new government capital

Banks receiving investments from the government will be expected to loan
out the money to help revive liquidity in the credit market, Treasury
Secretary Henry Paulson says.

Foreclosure aid at top of agenda for revamped Fannie, Freddie

Under their new government-appointed chief executives, Fannie Mae and
Freddie Mac are focused on reducing foreclosures, improving liquidity in
the mortgage market and restructuring aspects of their business.

GM hasn't yet secured funds for Chrysler deal: report

General Motors Corp. has not yet been able to secure financing to close
a merger deal with rival automaker Chrysler LLC, The Wall Street Journal
reports.