Fed to buy commercial paper from MFs

Mutual Funds: NDTV -
Tue, 10/21/2008 - 18:53


The
Federal Reserve announced on Tuesday that will start buying commercial
paper — a crucial short-term funding mechanism that many companies rely
on for day-to-day operations — from money market mutual funds.




Categories: Capital Market, Mutual Funds, News



Comments

Post a Comment

Popular posts from this blog

Strong rally at Wall Street

29 Jan 2009 | 10:04 Strong rally at Wall Street Stocks at Wall Street managed a strong end with good gains on Wednesday, 28 January, 2009. Financials led the way today as Wells Fargo decided that it will keep its dividend intact and will not ask for additional TRP funds. Stocks also rose today after Federal Reserve's latest policy statement. The Dow Jones Industrial Average ended higher by 200 points at 8,375, the Nasdaq closed higher by 53 points at 1,558 and the S&P 500 closed higher by 28 points at 874. Citigroup, Wells Fargo and Bank Of America were the main Dow winners today. In the earning arena today, Boeing and AT&T reported unimpressive quarterly results. WellPoint's latest earnings were in-line with expectations. Yahoo! and ConocoPhillips both topped earnings estimates. Today, The Federal Open Market Committee kept its interest rate target in a range of zero to 0.25%, as expected. It
Read more

Asian Market Support Stimulus With Surge

03 Feb 2009 | 16:28 Asian Market Support Stimulus With Surge Stock markets in Asian region closed mostly higher on Tuesday 3 February 2009, despiteof lackluster performance on Wall Street overnight and stimulus measures in Japan andAustralia to stabilize markets and support their economies. The Bank of Japan announced tobuy about 1 trillion yen ($11.2 billion) in corporate shares held by banks, while theReserve Bank of Australia announced a $ 26 billion fresh spending to help the country'sresources-based economy accompanied by 100 basis point rate cut from Reserve Bank ofAustralia taking the interest rate to 3.25%. Stocks at Wall Street ended on a mixed note trimming some of its early losses after datashowed a smaller-than-expected contraction in the manufacturing sector. The Dow JonesIndustrial Average finished down 64.11 points, or 0.8%, to 7,936.75. The S&P 500gained half of a point to stand at 825.43,
Read more

Asian Market registers convincing recovery

16 Jan 2009 | 16:03 Asian Market registers convincing recovery Stock markets in Asian region closed higher on Friday 16 January 2009, showing some sign of improvement at the end of week convincing recovery from Thursday's big falls. The regional markets followed the gains on Wall Street registered last night. In the region, technology and resource stocks showed some upbeat. On Wall Street, the stock markets showed sign of improvement despite of disappointing economic data, falling crude price and the overall financial sector. The Dow Jones Industrial Average ended higher by 12.3 points at 8,212, the Nasdaq closed higher by 22.2 points at 1,511 and the S&P 500 closed higher by 1.1 points at 843.74. Meanwhile, news of Bank of America might require bailout money to finance the Merrill Lynch acquisition came true as U.S. officials early Friday disclosed they have agreed to provide Bank of America Corporation (BAC) with a
Read more