Author: 123jump.com Staff
123jump.com
Last Update: 3:43 PM EST March 06 2007
U.S. stocks rose, driving all three major stock indexes up more than 1%, as nearly a week of steep declines brought buyers back. Shares of Google Inc. shot up 2.7% and Apple shares rose 1.7%. Citigroup jumped 2.7%. General Motors may have to take a charge of $1 billion for bad mortgage loans. The Fed Chairman said that Fannie Mae and Freddie Mac should sell majority of its asset and focus on lending to promote affordable housing.
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