Crude Gets Boost as Investors Review U.S. Rescue Plan
Crude for October delivery is up more than two dollars as investors dissect the possible impact of Friday’s proposed economic rescue plan.
Last of the Investment Banks
Goldman Sachs and Morgan Stanley change status to bank holding companies effectively ending the era of the investment bank on Wall Street. The change allows both institutions to accept customer deposits which can be included as part of each firm’s resources.
Dollar Falls on Deficit Concerns
The $700 billion proposed bailout for the troubled U.S. market fuels deficit worries and pushes the dollar to a three-week low against the euro.
Aussie and New Zealand Dollars Rebound
Buoyed by news of a rescue plan for the global credit problems, Australian and New Zealand dollars both rose on the overnight markets.
