Equities To Close Quarter At A 4-Year Low As Wall St. Prepares For Paulson Plan
According to emerging reports, stocks are moderately higher on Wall Street despite a sell-off in Asian stock bourses.
The mixed open in New York comes amid anticipation of Treasury Secretary Henry Paulson's plans to overhaul the regulatory system on Wall Street. Also coming up on Monday is much-awaited data from the manufacturing industry.
Monday, incidentally the last trading day of the quarter is not expected to show any surprises as many institutional investors may have closed their books by now, reports the Associated Press.
Analysts say equities will close the quarter with the steepest declines in about four years.
By 9:47 am in New York, the Dow Jones industrials average was up a quarter of a percent at 12,247, while the tech-centric NASDAQ composite index was up 0.67 percent and the broader Standard and Poor's 500 index tagged 0.41 percent higher.
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