Markets Up At Opening
The markets are up at opening today, buoyed by a weekly jobless report that showed claims are still rising but at a rate that was less than expected.
In the first 30 minutes of trading, the Dow is up 80 points, or 1 percent.
The broader S&P 500 is up about 1.1 percent and the tech-heavy Nasdaq is up 1.7 percent.
The big developing story underway right now is the looming bankruptcy of Chrysler, after government negotiations with some of Chrysler's creditors fell apart last night.
Here's a good outline of what a new Chrysler might look like, as reported by this morning by The Post's Brady Dennis, David Cho, Peter Whoriskey and Kendra Marr:
"Company and government officials had feared that a bankruptcy would stain the brand, shake customer confidence and erode sales, but the administration said it would seek to use the process to create a new Chrysler company. Its ownership would be divided, with the company's union retiree health fund receiving a 55 percent stake, Fiat would claim as much as a 35 percent share and the United States would take 8 percent. The Canadian government would receive two percent."
April 30, 2009; 10:02 AM ET
Categories: The Ticker | Tags: Chrysler, Dow Jones, nasdaq, s&p 500
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