Stocks Mixed; More Credit Losses Emerge
Stocks are off to a choppy start on Monday, as more credit related problems emerge.
HSBC Holdings
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PowerRating) bailed out two SIVs by moving them onto its balance sheet, taking on $45 billion of assets.
The Wall Street Journal reported that Citigroup
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PowerRating) is under pressure to do the same regarding $41 billion in off-balance sheet securities.
Financial stocks remain under pressure as investors struggle to grasp the full impact of the credit crunch. Meanwhile, technology stocks are in favor again today, with a number of big names moving higher.
Affiliated Computer Services
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PowerRating) board approved a $1 billion share buyback program (read more).
The U.S. dollar is trading lower versus the euro, oil is also lower, while gold and silver are higher.
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