Stocks back off 12-year lows as analysts debate significance

Date: Tue, 03 Mar 2009 12:01:22 -0500

Stocks back off 12-year lows as analysts debate significance

As U.S. stocks on Tuesday bounced back from the prior day's stumble to
12-year lows, analysts, technicians and would-be historians debated
the significance of the fall, which could signal an important market
milestone or nothing much at all.

THE FED: NEW LENDING PROGRAM LAUNCHED; CONSUMERS, BUSINESS TARGETED

The Term Asset-Backed Securities Loan Facility, a much-anticipated
lending program from the Federal Reserve and the Treasury, could
generate up to $1 trillion in loans for small businesses and
consumers, the government says. The first TALF loans will be made
March 25,

ECONOMIC REPORT: U.S. JAN. PENDING HOME SALES DOWN 7.7%, REALTORS SAY

The number of new sales contracts on existing homes falls a seasonally
adjusted 7.7% in January amid job losses and weak consumer confidence,
a real estate
trade group says.

TOYOTA REPORTED SEEKING $2 BILLION LOAN FROM JBIC

Toyota's auto-financing unit is asking the Japan Bank for
International Cooperation for a loan of $2 billion under a
recently-launched program to help Japanese firms operating abroad,
reports say.