7:58 AM
Freddy
At the opening, Wall Street have increased due to the announcement of the U.S. Treasury Department's plans to extend its $700 billion aid to insurance companies.
The insurance companies are eligible to receive the TARP funds because of their bank holding company status.
But beside of this increase, investors must remain cautious about the other news that showed a decline. The Commerce Department said that February's wholesale inventories dropped about 1.5 percent. This was the steepest drop during the last 17 years. Beside that, news that also attracted the investors' attention is the decline of oil prices.
Some analysts said that Wall Street will face a longer bearish sentiment than we have expected. So we must be more cautious..
Posted in: News
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