Treasury to auction record $71 billion next week

Date: Wed, 29 Apr 2009 12:01:16 -0400

Treasury to auction record $71 billion next week

The federal government plans to auction a record $71 billion of
securities next week, seeking to raise cash to pay for massive
spending plans designed to get the economy moving again. At this rate,
the debt ceiling will be reached during the second half of the year,
the Treasury says.

E-TRADE SHARES LOSE 30% ON CAPITAL CONCERNS

Shares of E-Trade Financial Corp. were clobbered
Wednesday after the firm reported weaker quarterly financial results
said its regulator has ordered it to beef up its balance sheet,
sparking concern a capital raise could dilute shareholders.

ECONOMIC REPORT: GDP FALLS 6.1% ON RECORD DROP IN INVESTMENTS

The U.S. economy contracts violently again in the first quarter of the
year as business investment declines at a record rate, the Commerce
Department reports.

US STOCKS CLIMB AS FOCUS TURNS TO ECONOMY

U.S. stocks climbed Wednesday as investors focused more intensely on
the U.S. economy, which shrank more quickly than expected but showed a
few signs of life
as well in the first quarter, according to new data. At 10:20 a.m.
EDT, the Dow Jones Industrial Average was up 123 points. The Nasdaq
Composite Index was up 1.8%. The S&P 500 was up 1.7%, helped by gains
in every sector except health
care. It slipped 0.6%, giving back some of the gains it enjoyed the last few
days as buyers bet that drug makers would benefit from the outbreak of swine
flu. Traders are awaiting the outcome of the Federal Reserve's two-day
interest-rate meeting, with a decision due at 2:15 p.m.

CORRECT: U.S. SEES FIRST DEATH FROM SWINE FLU

A 23-month-old has died in Texas, becoming the first U.S. citizen to
die from the swine flu that's left scores dead in Mexico, federal
officials say. President Obama acknowledges a "serious situation."