http://www.nytimes.com/
Consensus on Wall Street Rescue Plan Is Said to Be Near
By DAVID M. HERSZENHORN and CARL HULSE
3:43 PM ET
Officials said that the core of the proposal put forward by the Treasury secretary remained intact, and that a deal might be announced on Sunday evening before the markets open in Asia.
The spending plan, passed by a vote of 78 to 12, totals more than $630 billion. It includes nearly $23 billion in disaster aid for storm-ravaged parts of the country and also allows the expiration of a quarter-century-old ban on new oil drilling off the Atlantic and Pacific Coasts, handing Republicans a political victory. It also provides $25 billion in loan guarantees for the auto industry.
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"Traders will probably trade small with the high drama in Washington going on. If we finally do get an agreement, the market will get the lift but it won't last more than a day before the reality of the poor economic backdrop and the upcoming earnings season comes into focus," said Elliot Spar, option-market strategist at Stifel, Nicolaus & Co.
http://www.marketwatch.com/news/stor...5E2208E800F%7D