U.S. stocks up on Fed's entering commerical paper market

Date: Tue, 07 Oct 2008 12:03:17 -0400
U.S. stocks up on Fed's entering commerical paper market

U.S. stocks on Tuesday wavered higher after a sell-off that has the
major indexes trading at or near four-year lows as panicky investors
offered a tentative cheer for the Federal Reserve's latest move to ease
frozen credit markets.

Odds rise for coordinated, global rate cuts

Fears that ongoing financial turmoil could wreck the world's banking
system and worsen a global slump fuels speculation that major central
banks are preparing to deliver a rare round of coordinated interest-rate
cuts if conditions don't improve.

The Fed: Fed to buy commercial paper to ease market strain

Opening up another front in the battle to end the credit crunch, the
Federal Reserve announces it will buy unsecured commercial paper in an
effort to restart a market that has ground to a virtual halt in recent
weeks over concern about the financial sector.

The Ratings Game: Analysts cool on Bank of America as credit
deteriorates

Wall Street analysts were quick to scale back their earnings
expectations for Bank of America Corp. after it pre-announced
third-quarter results, saying the company will face more credit woes as
the economy continues to weaken.

Financial Stocks: Fed plan to buy commercial paper lifts financial
stocks

U.S. financial stocks rose early Monday, inspired by a Federal Reserve
plan to begin buying commercial paper in an effort to free up short-term
liquidity in the credit markets. Commercial paper is the shortest-term
credit available and generally ranges in maturities from overnight to
several months.