A report from S&P said an end to subprime pain "is now in sight," even as a Carlyle fund collapsed. Gold topped $1,000 per ounceDespite a wave of bad news on the credit markets and economy, stocks bounced back Thursday on hopes that the end of the credit crisis is in sight.
A report from Standard & Poor's estimated that global losses from subprime debt could hit $285 billion, but added "the end of write-downs is now in sight for large financial institutions." (Read the S&P Ratings report here).
Major stock indexes started the day with losses of almost 2% after news that a large fund was facing collapse, a report that retail sales fell in February and a surge in commodity prices, with oil hitting $110 per barrel and gold pushing past $1,000 per ounce, both records.
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