Dow Jones Index increased by 62.21 points or 0.69% at 9015.10 points.
American market surged as of closing on Tuesday. Dow Jones rose by 62.21 points or 0.69% at 9015.10 points, S&P 500 by 7.25 points to 934.70 points, and NASDAQ by 24.35 points or 1.50% at 1652.38 points.
Barney Frank and Obama reached an agreement on financial bailout plan.
Barney Frank, president of American House Financial Services Committee recently said that he had reached a principled agreement with Obama on usage of the second USD350bn of the total USD 700bn bailout capital. According to the agreement, the fund will be released to prevent foreclosure from further ascension and more loans to be granted on housing mortgage and automobile, and to limit the premium amount of enterprises’ senior administrators and dividends.
American Economy keeps the downturn.
American ISM non-manufacturing composite index rebounded last month, but factory indent and Pending Home Sales Index were far below that of expectation, which weakened the negative impacts. Meanwhile, the medium economic slide added more pressure to approval of new stimulus plan. American ISM non-manufacturing composite index was 40.6 last month, which was the first rebound for four consecutive months. Sub-indicators of enterprises activity, new indent, not-delivered indent, new export indent, inventory and employment increased, while import, price index and supplier delivery declined. On the other hand, American single-month factory indent rose from -5.1% of last month to -4.6%, which was far below -2.3% of the market expectation.