Financial news on October 21st, 2008

Business and Financial news
China Plans to Bolster Its Slowing Economy

China has begun drafting policies to stimulate the economy after slow growth in the third quarter. Read more..

By KEITH BRADSHER - The New York Times

Fed Chairman Endorses New Round of Stimulus

The chairman of the Federal Reserve told Congress that he supported a round of additional spending measures. Read more..

By EDMUND L. ANDREWS - The New York Times

In Finance, Japan Sees an Opening

As the global financial order convulses, some Japanese leaders believe the country should take a more active role in economic leadership. Read more..

By MARTIN FACKLER - The New York Times

One Day After a Bailout, ING Sells Taiwanese Unit

The sale of the life insurance unit to a Taiwan financial services company comes after the Dutch government said that it would inject about $13.4 billion into ING. Read more..

By DAVID JOLLY - The New York Times

Signs of Easing Credit and Stimulus Talk Lift Wall Street

Amid signs that credit was beginning to flow more easily, investors sent the Dow up 413 points. The S.&P. gained 4.8 percent. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Sun Microsystems Expects Quarterly Loss

Sun Microsystems, the server and software maker, swung to a loss in its first quarter, dragging the results below Wall Street’s forecast. Read more..

By ASHLEE VANCE - The New York Times

The Credit Squeeze Compresses Travel, Too

Airlines have cut capacity and are trying to keep prices up so they can operate profitably at sustained oil prices of $80 to $100 a barrel. Read more..

By JOE SHARKEY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE19.9321.0319.9020.35103M
Cisco SystemsCSCO18.7018.8917.7517.8675.1M
Wells Fargo & Co.WFC31.5834.0031.5432.6452.9M
Oracle Corp.ORCL17.9018.4117.5917.6946.9M
JPMorgan ChaseJPM39.9241.2739.6039.7441.8M
AT&T Inc.T26.7827.1725.4225.7332.9M
HP Inc.HPQ40.2140.7037.8738.0528M
Bristol-Myers SquibbBMY18.3318.9018.2518.4621.3M
Wal-Mart StoresWMT54.1855.5053.5653.6719.4M
Abbott LaboratoriesABT57.7257.8555.7755.9916.7M
Verizon CommunicationsVZ28.5129.1927.8128.0115.4M
Home DepotHD20.5021.4620.3120.5215.1M
Walt Disney & Co.DIS26.1526.1825.0925.3114.7M
Johnson & JohnsonJNJ63.7164.9063.3763.6614M
UnitedHealth GroupUNH25.1425.9925.0025.2513.4M
Procter & GamblePG63.4764.2962.6462.9612.7M
Gilead SciencesGILD46.4347.0945.7246.0210.8M
International Business MachinesIBM92.2292.4688.5788.869.72M
United TechnologiesUTX51.2052.2950.4150.957.27M
Union PacificUNP57.7861.1257.4058.425.46M
Berkshire HathawayBRK.B4128.004178.004030.004060.0032.3K
Exchange Rates of October 21st, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 100.360 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.213 CAD1 CAD = 0.824 USD
US DollarSwiss Franc1 USD = 1.152 CHF1 CHF = 0.868 USD
US DollarChinese Yuan1 USD = 6.834 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 131.010 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.782 GBP1 GBP = 1.279 EUR
EuroAustralian Dollar1 EUR = 1.932 AUD1 AUD = 0.518 EUR
EuroCanadian Dollar1 EUR = 1.583 CAD1 CAD = 0.632 EUR
EuroSwiss Franc1 EUR = 1.504 CHF1 CHF = 0.665 EUR
EuroChinese Yuan1 EUR = 8.928 CNY1 CNY = 0.112 EUR
Japanese YenPound Sterling1 JPY = 0.597 GBP1 GBP = 1.676 JPY
Japanese YenAustralian Dollar1 JPY = 1.474 AUD1 AUD = 0.678 JPY
Japanese YenCanadian Dollar1 JPY = 1.208 CAD1 CAD = 0.828 JPY
Japanese YenSwiss Franc1 JPY = 1.148 CHF1 CHF = 0.871 JPY
Pound SterlingAustralian Dollar1 GBP = 2.470 AUD1 AUD = 0.405 GBP
Pound SterlingCanadian Dollar1 GBP = 2.025 CAD1 CAD = 0.494 GBP
Pound SterlingSwiss Franc1 GBP = 1.924 CHF1 CHF = 0.520 GBP
Pound SterlingChinese Yuan1 GBP = 11.409 CNY1 CNY = 0.088 GBP
Australian DollarCanadian Dollar1 AUD = 0.820 CAD1 CAD = 1.220 AUD
Australian DollarSwiss Franc1 AUD = 0.779 CHF1 CHF = 1.284 AUD
Australian DollarChinese Yuan1 AUD = 4.632 CNY1 CNY = 0.216 AUD
Canadian DollarSwiss Franc1 CAD = 0.950 CHF1 CHF = 1.053 CAD
Canadian DollarChinese Yuan1 CAD = 5.634 CNY1 CNY = 0.177 CAD
Swiss FrancChinese Yuan1 CHF = 5.930 CNY1 CNY = 0.169 CHF

See what else happened on October 21st, 2008