S&P 500 extends gains into a fourth day as financials rally

Date: Wed, 28 Jan 2009 17:01:44 -0500
S&P 500 extends gains into a fourth day as financials rally

The rally in financial shares has the S&P 500 poised to extend its
longest winning streak yet this year. But the four-day run, while
positive, doesn't signal much of a break in a range-bound bear market.

THE FED: FED PREPARED TO BUY TREASURIES; SEES SECOND HALF RECOVERY

The Federal Reserve said Wednesday it was prepared to purchase longer
term Treasury securities if needed to improve conditions in private
credit markets.

FED READIES PLAN TO HELP CONSUMERS GET MORE CREDIT-CARD DEBT

The Federal Reserve's getting ready to launch a new program that
should make iteasier for consumers to get credit-card and auto loans
-- though not necessarily at lower interest rates.

GEITHNER SAYS BAILOUT PLAN SOON; BAD BANK REPORTED AMONG OPTIONS

The Obama administration considers setting up a so-called bad bank to
buy illiquid mortgages from troubled financial institutions as its
latest effort torestore confidence in the financial markets.

BOEING POSTS QUARTERLY LOSS; SLASHES VIEW, PLANS 10,000 JOB CUTS

Boeing runs a fourth-quarter loss due mainly to the machinist strike
that ended last fall, the aerospace giant's financial results show.
Management also lowers profit target for 2009 and announces plans to
shed 10,000 jobs, up from 4,500
previously.