Stocks climb on banking reform, China growth

[TomCADem]

Source: Associated Press

NEW YORK (AP) -- Stocks extended their rally into a third week Monday as investors sent bank stocks higher following new global regulatory requirements and China's economy continued its robust growth.

A round of corporate dealmaking also gave a lift to stocks. Hewlett-Packard Co. said it will purchase security software provider ArcSight Inc. Dollar Thrifty Automotive Group Inc. said it accepted Hertz Global Holdings Inc.'s acquisition offer. Acquisitions are often a sign that companies are confident the economy is going to expand soon.

The Dow Jones industrial average rose 75 points in morning trading. If it holds onto gains Monday, it would be the eighth time in nine days the index rose.

Global regulators agreed to reforms that could help avoid another credit crisis that plagued financial markets worldwide in 2008 and early 2009. Banks will gradually have to increase their reserves to protect against potential losses. The new regulations have added to confidence in Europe's banks, which have been slower than their U.S. counterparts to bolster reserves. European markets rose sharply Monday.


Read more: http://finance.yahoo.com/news/Futures-surge-on-banking-apf-3664843146.html?x=0&sec=topStories&pos=main&asset=&ccode=

[madrchsod]

1. meanwhile china is running out of fresh water.....

[Po_d Mainiac]

2. Banking Reform?

Anyone that thinks a bunch of banksters got together and decided to put a package together that will actually 'reform' the way banks function, hasn't been fucked hard enough to awaken them from their stupor :grr: