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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
May 05, 2009
Page
10
New York reports a 3.4 percent rise in the S&P 500 lifting it above 900 for the first time since January and erasing most 2009 losses. The Dow jumps over 200 points to 8426.74 and Nasdaq 1,753.56 as housing and finance shares rally on improved data.
In bankruptcy court Capstone Advisory Group executive director Robert Manzo testified that the government financing for Chrysler carries a low likelihood of repayment. The plan envisions $8 billion in new financing on top of $4 billion already received as Chrysler seeks Chapter 11 protection with Fiat Group. A dissident lender group and attorneys raised objections to the proposed assets sale and related costs.
Monday's markets in review show mixed activity with World Stock leading gains and Totian Reserve posting higher values amid cautious trading. Analysts note modest volume as investors awaited key economic data and policy signals.
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