Fannie Rally Lifts Wal Mart, Visa

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Market Update :

Fannie Rally Lifts Wal-Mart, Visa

Author: 123jump.com Staff
123jump.com
Last Update: 5:14 PM EDT March 20 2008

U.S. stocks rallied on positive analyst comments covering Fannie Mae and Freddie Mac. KBW analyst suggested that the recent Fed actions and wider latitude in mortgage lending will help the two largest mortgage lenders. Financials, home builders, and brokerage stocks rallied. Dow, Nasdaq and S&P 500 rose above 2%. Credit Suisse surprised estimate in the current quarter loss kept European banks and markets in check. General Motors closed near record low. Visa and MasterCard surge.

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