Confidence In The Economy Returns.
The Stock Markets went into overdrive and rose on the news of an auto stimulus package in both the US and Canada. In total the rescue package amounted to $ 21.4 Billion – enough to encourage, investors believe, for the economy to be far more stable. There’s aparently enough to say the confidence in the economy will return.
Stock prices rallied Friday, as investors cheered the government’s pledge to lend as much as $17.4 billion to U.S. automakers, staving off possible bankruptcies that could have sent a debilitating blow to the economy and the labor market. Read more about the latest news from the Business Journal.
In Canada, the other country of the North American Auto Pact, has agreed to another $4Billion as a loan, available until March 2009.
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