Markets Eye Auto Bailout, Stimulus
The hearings on the auto bailout are over and this week Congress is getting to the details: the legislation. Having made some progress over the weekend in shaping an auto bailout package, The Post's Lori Montgomery reports that lawmakers could vote as early as tomorrow on a bill. The bill would include more oversight for the Big Three automakers, and top lawmakers are calling for new management, specifically at General Motors.
The overseas markets seem to like the news about the bailout and Obama's first outlines of a stimulus plan. The DJ Stoxx index is up 5.7 percent. In Asia, the markets closed sharply higher: Japan's Nikkei rose 5.2 percent and Hong Kong's Hang Seng rose 8.7 percent.
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