NEW YORK (Reuters) – Wall Street is unlikely to get a reprieve next week as relentless worries about U.S. banks and the economy could embolden bears to drive the market below the 12-year lows hit on Friday.
Investors will also be looking for further action from the government in its campaign to shore up the financial system. The Federal Reserve will release details early next week on its latest plans, a massive program to support consumer and small business lending, a Fed official said on Friday. The Term Asset-Backed Securities Loan Facility , also known as TALF, is a key part of the efforts to stop the unraveling of the financial system in the wake of the credit crisis and U.S. housing collapse. The program could grow to up to $1 trillion in size.
Full Story: Banks and economy to keep bears' grip on stocks (Reuters)
Investors will also be looking for further action from the government in its campaign to shore up the financial system. The Federal Reserve will release details early next week on its latest plans, a massive program to support consumer and small business lending, a Fed official said on Friday. The Term Asset-Backed Securities Loan Facility , also known as TALF, is a key part of the efforts to stop the unraveling of the financial system in the wake of the credit crisis and U.S. housing collapse. The program could grow to up to $1 trillion in size.
Full Story: Banks and economy to keep bears' grip on stocks (Reuters)
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