Tuesday, 21.10.2008

US stock futures rose sharply on Monday, showing that a sharp drop in the rates banks charge each other for loans raised hopes that global efforts to shore up the banking system were taking hold.

The Dow Jones index was up 4.67%. Standard & Poor's index climbed 4.77%, while Nasdaq composite index rose by 3.43%, signaling that investors remain skittish about diving back into stocks after weeks of punishing volatility.

The 1.5% drop in interest rates for instant loans added to positive trend in stock markets.

Source: makfax.com.mk