Bullish Blog

AP - The financial markets saw some relative calm Wednesday as investors uneasily awaited a Senate vote on the banking bailout plan, with Wall Street falling only moderately and the credit markets still showing signs of strain. The Dow Jones industrials zigzagged during the session, losing more than 200 points in early trading but closing down about 20 — far from the huge swings the blue chips saw during the first two sessions of the week.

Financial and energy stocks lead markets higher a day after the Dow’s worst point drop ever. The Senate will vote on a new bank rescue plan Wednesday. A new report says the housing market hasn’t bottomed. Apple jumps 8% and leads a tech rally.

AFP - Mexican tycoon Carlos Slim, one of the world's richest men, said Tuesday that China should lead rescue efforts for the US financial crisis, and that worldwide stock markets needed better rules.

Reuters - U.S. securities regulators on Tuesday gave the financial industry a reprieve from marking hard-to-value assets down to fire sale prices, throwing a lifeline to an industry beset by strained credit markets and the latest round of bank failures.

CQPolitics.com - Monday’s stunning drop in the major stock indexes could bolster the case for moving the financial bailout package. But on Tuesday, stocks recovered some of their losses, as bargain hunters looked for good deals.

Reuters - The Nasdaq Stock Market said it will cancel some of the late trades in Google Inc , whose shares appeared to plunge as low as 1 cent at the close of North American markets on Tuesday.

AFP - A powerful rally Tuesday helped Wall Street recoup some losses from Monday’s rout, amid renewed hope for US passage of a financial rescue package.

Reuters - Auto salesman Ryan Thomas is watching the credit crisis hit Main Street America. On Monday, as Congress rejected a bailout plan and stock markets plummeted, Thomas had to turn away a customer with $3,000 in his hand who wanted to buy a new vehicle.

Reuters - A senior U.S. lawmaker urged the U.S. Securities and Exchange Commission on Tuesday to reinstate an index arbitrage rule to halt market volatility.