9/8/08-Stocks Rally on News of Fannie Mae and Freddie Mac Bailout

The Dow was up 290.43 today to close at 11,510.74; S&P 500 gained 25.48 to close at 1,267.79 and NASDAQ closed at 2,269.76 up 13.88. Oil closed at 106.34 up .11; the ten year treasury note was up .34 closing at 102.75 bringing the yield down to 3.66% and the Dollar gained .02341 against the Euro so one Euro buys U.S. $1.41523. The good day in the market was because of the federal $25 billion bailout of FannieMae (FNM .70 down 6.34) and FreddieMac (FRE .89 down 4.12) even though shareholders in both those entities got slammed. That's it from Atlanta.