Stock market looks to housing for direction

Date: Mon, 18 May 2009 12:01:27 -0400

Stock market looks to housing for direction

U.S. stock investors zero in on the housing market to gauge economic
growth, with better-than-anticipated earnings from Lowe's helping
boost sentiment.

MONDAY'S BIGGEST GAINING AND DECLINING STOCKS

Stocks making notable moves in Monday's U.S. stock session include
AIG, Bank of America, STMicroelectronics, MGM Mirage and Lennar.

STATE STREET TO OFFER STOCK; BOOKS $3.7 BLN LOSS

State Street launches a $1.5 billion sale of common stock to help pay
back funds received under the government's Troubled Asset Relief
Program.

COSTLY FREEDOM FOR STATE STREET

It's a good day for State Street's Ronald Logue. His bank on Monday
announced a plan to repay funds it received under the Troubled Asset
Relief Program. Once
the process is complete, the bank won't be subject to such government
restrictions as pay limits.

BUFFETT LIFTED BERKSHIRE STAKE IN WELLS FARGO

A regulatory filing shows Berkshire Hathaway Chairman Warren Buffett
lifted his company's stake in Wells Fargo during the first quarter as
shares of the giant
bank swooned.