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• Tuesday, March 09th, 2010

How the major stock indexes fared on Tuesday (AP)
AP – Financial companies led stocks higher Tuesday on the one-year anniversary of the market’s hitting a 12-year low. The gain in bank stocks came as traders reacted to rumors that the government might prohibit the trades known as short sales in the stocks of companies it owns. Such a move would be aimed at preventing sharp drops in stocks including Citigroup Inc. and American International Group Inc.

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SEC sues ex-NY loan trader over alleged kickbacks (Reuters)
Reuters – A former stock loan trader at Morgan Stanley and Bank of America Corp in New York received well over $100,000 of cash kickbacks by steering orders to other brokerage firms, the U.S. Securities and Exchange Commission said in a lawsuit filed on Tuesday.

Todd Harrison: The witch hunt widens on Wall Street
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Summary Box: Gains slow after big year for stocks (AP)
AP – A YEAR LATER: The Dow Jones industrial average is up 61.4 percent since it closed at a 12-year low of 6,547 on March 9, 2009. On paper, U.S. stocks have gained about $5.7 trillion but are still down about $5.5 trillion from the peak in October 2007.

Asia markets little changed as China exports surge (AP)

Traders work on the floor of the  New York Stock Exchange, Tuesday, March 9, 2010.(AP Photo/Mark Lennihan)AP – Asian stock markets were little changed Wednesday even as surging Chinese exports pointed to a pickup in global trade.


Category: Trading News
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