Measure of uncertainty remains elevated even as stocks rally

Date: Mon, Mar 23, 2009 at 12:01 PM
Measure of uncertainty remains elevated even as stocks rally

The stock market's latest bounce has the S&P 500 tallying its best three-day
winning streak since late November, yet the CBOE Volatility Index – which
measures uncertainty -- edges only slightly lower, signaling ongoing wariness
about the market's direction.

FINANCIAL STOCKS: BANKING STOCKS RALLY ON TREASURY PLAN FOR TOXIC ASSETS

The U.S. financial sector was set to open sharply higher after the Treasury
Department unveiled a long-awaited government plan to rid banks' balance sheets
of troubled assets and get credit flowing again.

TREASURY DETAILS PUBLIC-PRIVATE PLAN FOR BANKS' TOXIC ASSETS

The U.S. Treasury details a plan designed to help investors purchase $500
billion worth of toxic assets that remain on bank balance sheets and have left
lending largely frozen.

FUTURES MOVERS: OIL RALLIES AS TREASURY'S PLANS RAISE OPTIMISM

Crude-oil futures rally about 3% Monday to above $53 a barrel, pacing strong
gains in U.S. stock markets, as the Treasury's plans to relieve banks of toxic
assets raise hopes of an economic recovery and increased energy demand.

METALS STOCKS: GOLD FALLS AS TREASURY DETAILS TOXIC ASSETS PLAN

Gold futures fall Monday for a second straight session as the U.S. Treasury
details a plan designed to help the private sector buy $500 billion worth of
toxic assets, boosting investors' confidence and reducing the metal's
safe-haven appeal.