Morning Briefing

Will the rally continue today?

By the looks of the overseas markets, that might just be the case. Yesterday's move by the federal government to take direct equity stakes in the nation's largest banks seems to have bolstered confidence overseas. Markets are soaring in Europe and Asia. In Japan, where markets were closed on Monday, investors made up for lost time today sending the Nikkei average surging 14 percent. Hong Kong's Hang Seng was up 3 percent, although the DJ Shanghai index fell 2 percent.

In Europe, the DJ Stoxx index is up 6 percent so far, and London's FTSE is up 5 percent.

This morning, President Bush is scheduled to address the nation at 8 am, followed by Treasury Sec. Hank Paulson and his economic team at 8:30 am. One question likely to come up today as government officials prepare to spend $250 billion of the $700 billion bailout bill: What about executive pay? According to a report by The Post's Peter Whoriskey, the much-touted limits on executive pay are a bit more flexible than most taxpayers thought.

Check back here for more on this and other economic news throughout the day.

--Sara Goo

October 14, 2008; 7:12 AM ET  | Category:  business
Previous: Readers: It's Not a Turnaround Yet | Next: The Day the U.S. Economy Changed

Comments

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The greedy s.o.b.'s that smashed and grabbed the economy are going to smash and grab all this government money again. They'll run it up and then run it down. It's a farce and they are putting bad money in the new bad banks only to rob the banks again. The public as usual is totally screwed in the rears. This fraud could even take more of the good banks down. Be prepared for hard times ahead. It's about the same old thing. Beat the public down and beat each other up. If you have millions you will be fine. If not you might just be better off dead. Don't even waste time voting because that has all been rigged to screw you even more than you are already screwed. Keep shotgun shells handy. The little nazis are all over the place. National Socialist America has arrived and the autocrat billionaires are running your life. Our old machine rolls on.

Posted by: Beau James | October 14, 2008 8:14 AM

Note: The old machine has as little money as ever, so some things never change. We can't afford the costs of the votes.

Posted by: Beau James | October 14, 2008 8:31 AM

Probably. But I will be very surprised if it is still on next week. Dead cat bounce sounds about right.

I started buying Friday because prices seemed reasonable for some good companies. I will likely sell into a rally because the higher prices are not an accurate reflection of the value of the companies.

Posted by: Anonymous | October 14, 2008 9:12 AM

What about executive pay? Great question. Same old story. The rich get richer and the poor get killed. This time the poor get to kill themselves trying to keep their heads above water. The executives are now feeding on the corpses of dead taxpayers to maintain that lifestyle. I need a Bentley here, so send money and I want a bigger house so give me your childrens money. Hollywood is rolling in dough, so it can't be all that bad. Go see the movie about what a piece of crap God turned out to be and have popcorn and soda pop. Throw rocks at each other rock heads. I need a bailout because I'm living in tax hell here. Winter forecast-old people freezing to death because they can't pay the gas bills with a slight chance of warming in the spring. Global warming ahead, so see the movie and panic.

Posted by: Beau James | October 14, 2008 9:13 AM

You don't value a company today. You bleed it, hire lobbyists and get bailout money. Then you put your stolen loot in a bad bank and tell everybody how good the company is. Hire lots of PR folks to and get more bailout money. If people disagree, sent the Paulson gestapo out to the house to question them. I'm looking for a bad banker to help me launder stolen corporate insurance losses. I could be bigger than AIG and lose more money, so that should get me all kinds of money from nazi Washington.

Posted by: Beau James | October 14, 2008 9:21 AM

Posted by: benq11 | October 14, 2008 12:43 PM

The comments to this entry are closed.

 
 
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