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USA UK and Malta News
14/10/2008 - 19:52

USA Today Editoweb 14 october 2008

Stocks fluctuate as profit-taking sets in - Bank rescue optimism offset by profit worry - London stocks advance.



Stocks fluctuate as profit-taking sets in

Wall Street fluctuated Tuesday as investors reacted enthusiastically to the U.S. government's plans to spend $250 billion to buy stock in private banks but also collected profits from the previous day's massive advance. The Dow Jones industrial average shifted between modest losses and gains a day after its record 936-point jump.

Bank rescue optimism offset by profit worry

The Dow and S&P 500 edged higher on Tuesday, buoyed by the U.S. government's plan to pump money into banks, but worries over the credit crunch's impact on corporate results kept the Nasdaq lower.

London stocks advance

The FTSE 100 index of shares closed with solid gains for a second straight day Tuesday on sustained investor confidence in government efforts to snuff out a global credit crisis.

McCain would guarantee all savings for 6 months

 Republican presidential candidate John McCain on Tuesday proposed a $52.5 billion economic plan that would eliminate taxes on unemployment benefits and cut the capital gains tax while warning voters about taking a chance on Democratic rival Barack Obama.

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