Author: 123jump.com Staff
123jump.com
Last Update: 9:26 AM EDT March 24 2008
Nasdaq surge of 3% led the U.S. stock rally. JP Morgan revised its offer to purchase Bear Stearns and agreed to purchase 39.5% of the broker at $10 per share from the previous bid of $2 per share. Existing home sales in February rose 2.9% from February but fell 24% from a year ago. The surprise rise in home sales and revised bid for Bear lifted financial, home builders, and retail stocks. European markets were closed and Brazil and Mexico added 1.9% and 1.5% respectively. Shanghai fell 5%.
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