|Financial markets||Major world indicators|
- The 225-issue Nikkei Stock Average gained 108.40 points, or 1 percent, to close at 11,368.26.
- The dollar bought 106 yen, up from about 104 yen earlier in the week.
Tuesday's U.S. Markets...
- The Dow Jones Industrial Average 485.21 points higher, or 4.7 percent, to close at 10,850.66 -- off 4.4 percent for the quarter. The Nasdaq Composite Index was up 5 percent to end at 2,082.33 -- off 9.2 percent for the quarter.
- The 10-year Treasury note ended down 1 22/32 points, or $16.875 for every $1,000 invested, to yield 3.831 percent, up from 3.630 percent.
- The dollar traded at 106.35 yen, up from 104.29 yen, while the euro was at $1.4076, down from $1.4441 late Monday.
|Ag futures||Yesterday's action and |
- Overnight trade: Check the link for updated prices and/or settlements.
What happened yesterday...
- Corn: Futures opened slightly lower and extended losses throughout the session to finish 22 to 25 cents lower in the most actively traded contracts.
- Soybeans: Futures opened slightly lower and sharply extended losses to finish 47 1/4 to 49 cents lower and closed near session lows.
- Wheat: Futures opened slightly higher and held onto gains in most contracts into the close.
- Cotton: Futures closed slightly lower in most contracts, but finished in the upper end of the day's range.
- Lean Hogs: Lean hog futures were mixed throughout the day. In the end, it was only October hogs that ended 2 cents higher.
- Live Cattle: Live cattle futures posted slight gains in most contracts.
Agricultural Marketing Service = (A)
|Overview||Other reports affecting agriculture|
|Major media||Links to top news reports |
with potential U.S. ag impact
Wall Street Journal (subscription to site required for access)
- Congress, White House Weigh Increase in Deposit Insurance Senate Plans Vote on Revised Rescue Package That Raises Limits on Deposit Insurance Raising the limit on bank deposit insurance to $250,000 from the current $100,000 is one of the provisions that is hoped to broaden support for a rescue plan that is to be voted on in the Senate this evening. It may also include a package of business and individual tax proposals in order to woo conservative Republicans.
Ireland, France Aid Banks, as Jitters Go Global
Loyalty Pays a Bitter Dividend
Central Banks Step Up Globally
An Old Hand Counsels Lawmakers
Rescue's Supporters Failed to Connect With Public
Russia Endorses Bank Consolidation Amid Turmoil
Scramble Is On to Get Rescue That Will Pass
Candidates Back FDIC Shift
Businesses Pressure Congress on Bailout Plan
U.S. Auto Makers Seek Bailout for Bad Car Loans
A Bailout May Be Unpopular, But Doing Nothing Is Worse
- New Voters Like Obama, But May Not Show up at Polls A new poll shows that new voters are more likely to support Sen. Obama than Sen. McCain for president, but the poll also found that many of these new voters may not actually cast their ballots.
- Chinese Parents File Milk Lawsuit Couple's Claim Comes as Officials Oppose Litigation Parents of a 1-year old child sickened by tainted milk filed a lawsuit against dairy company Shijiazhuang Sanlu Group Co., but it has yet to be accepted by the court. Some lawyers who offered to assist families of sickened children report being pressured to stay away from the issue.
- Pelosi's Trade Priorities She denies free trade to our ally in South America. Opinion item. The item decries the House voting to allow Colombia and other countries to continue to send products here duty free while U.S. exporters still face hindrances to trade there which would be rectified via the free trade agreement with Colombia that still hasn't been brought up in Congress.
New York Times (registration to site required)
- Senate to Vote Wednesday on Bailout Plan The Senate package includes some provisions expected to bring support from conservative Republicans, and House Minority Leader John Boehner (R-Ohio) is said to have "given the green light" to the inclusion of tax provisions. While the Senate is said to have left the door open to additions to the bill, many say it could be unlikely that the package will be opened up broadly.
Lesson From a Crisis: When Trust Vanishes, Worry
Small Banks Score a Coup by Lobbying
Amid the Wall Street Chaos: Confusion, Anger and Shifting Opinions
A Recovery in Shares on Hopes of a Bailout
Tighter Credit Only Adds to Auto Industry's Troubles
What Now, After the House Vote?
Europe Moves to Calm Ripple Effect of Crisis
Labeled as a Bailout, Plan Was Hard to Sell to a Skeptical Public
- Many Foods Will Soon Be Labeled by Country of Origin Consumers may not see the new labels in stores right away and the enforcement of the plan won't start for another six months in terms of whether stores will be cited for violations.
- Lawmakers Revise Rescue Plan Stocks Rise; Senate Aims To Vote Tonight Markets reacted positively Tuesday to the work in Washington on retooling a rescue package which the Senate is scheduled to vote on tonight. The plan would boost the FDIC insured level on deposits and contain tax breaks and other tax provisions that may well attract some lawmakers to support the package.
Rescue Package Not the Only Loser In House's Vote
Most Voters Worry About Economy
A Two-Pronged Push To Aid Ailing Banks
Candidates Follow Up on Plan
Bush's Warnings of Danger Are No Longer as Powerful
A Midwestern Republican Who Voted Against The Plan Is Blasted for 'Inaction' by Opponent
Crisis Felt Unevenly on Main Street
A Test of Leadership Editorial.
|Laughing with, not at||From political humorists|
Jay Leno: "President Bush addressed the nation last night. … How many thought they were watching an episode of ‘Are You Smarter Than a 5th Grader?'”
Jay Leno: "I listened to President Bush's speech. I think I understand this whole economic crisis. See, rich people on Wall Street made a big mess, and they're too rich to clean it up. So the rest of America, you know, their maids and butlers, they have to clean it up for them. You see how easy it is?”
Jay Leno: "As far…as this whole” $700 billion "thing is concerned, they keep saying, ‘We have to act now. We have to act now.' This is like a bad TV offer. ‘Just 10 easy payments of $70 billion each. Operators are standing by, but you have to act now!'”
Jay Leno: "To give you an idea how bad the economy is, Wall Street investors are now clinging to their guns and religion.
Jay Leno: "John McCain wants to suspend his debate with Barack Obama until the economic crisis is over. And Sarah Palin now wants to suspend her debate with Joe Biden until she can find Europe on a map.”