Stocks Set to Climb after Historic Weekend - BusinessWeek

Major U.S. indexes traded sharply higher Monday morning after central banks and governments announced measures to bolster the global financial system hammered recently in one of the worst sell-offs ever, were soaring Monday morning as global central banks and governments moved over the weekend to shape a rescue plan for troubled banks and economies. Treasury futures were skidding, indicating bond yields were rising in reaction to the central bank movements that appear to have relieved panic that prevailed last week. The bond market, U.S. banks and government offices were closed Monday for the Columbus Day holiday. The dollar index was sharply lower as the euro and pound sterling rallied on central banks' moves to inject huge amounts of cash into their banking systems. Gold futures plunged. Oil futures were higher on short... [read full story]