The markets are up around 2.5% so far this morning on the heels of some progress that has been made in Europe regarding the fragile banking system. Dexia, which a cross-boarder bank which has operations both in France and Belgium, agreed over the weekend to let the Belgium Government come in and take over the bank in order to stave off a possible bankruptcy..this is good news because it shows that some countries over in Europe are willing to take a proactive approach to stabilize the financial system.
The U.S. stock market is rallying to the upside because it's starting to appear that the economy could avoid a possible double-dip recession as the economy continues to grow albeit at a slow pace.
Etrade, my favorite stock is up 6% this morning on further news that the possible sale of the company could happen sooner rather than later. Yahoo, also one of my favorite stocks, is up 3% on news over the weekend that the co-founder of the company, Jerry Yang is also interested in buying the company back from shareholders..the Yahoo buyout situation is really getting interested as it appears multiple bidders have emerged.
I'll check back in later but the only negatives I can see so far this morning is that volume is on the lower side but that could also be related to the bond market being closed because of the Columbus Day Holiday...
