U.S. stocks closed higher Friday founding 21 years ago this month, the largest decline

U.S. stocks closed higher Friday to end the turmoil in the transaction this month, this month is the U.S. 21 years ago one of the worst. With a growing number of investors looking for undervalued stocks, the major indexes sharply higher Friday. The Dow rose 1.6 percent, the Nasdaq rose 1.3 percent, the Standard & Poor's 500 index rose 1.5 percent. Oaktree Asset Management chief investment officer Robert - Pavlik (Robert Pavlik), "as a result of the Federal Reserve and the Ministry of Finance adopted a series of measures to inject the financial system, has been to restore the confidence of investors. These measures have thawed the credit market And the commercial paper market to gradually return to normal. " Federal Reserve Chairman Ben Bernanke in prepared remarks that the crisis in the market, the Government of the need for government-sponsored enterprises such as the two houses to provide debt guarantees. He also proposed a variety of home loans in the next feasible way. He said that "even if the other two rooms to take the organizational structure of the U.S. government will continue to be based on their current organizational structure of the bonds issued to provide strong protection." The Bush administration is considering to issue mortgages to help provide security to some 300 million families from losing their homes. The Government is also considering a five-year period to lower mortgage lending rates, and other solutions. The Commerce Department report on U.S. consumer spending in September fell 0.3 percent, a drop of the new four-year high. September Chicago Purchasing Managers Index fell to 37.8, much lower than the 48.0 analysts expected. But by the end of October University of Michigan consumer sentiment index to 57.6, slightly better than market expectations of 57.5. San Francisco Federal Reserve Bank President Janet Yellen said the bank could lower U.S. interest rates, but he did not rate this year, the right to vote. New York Mercantile Exchange crude futures trading in the day most of the time down to maintain the momentum, but in the temporary closing ago made all of a sudden, prices turned higher. December delivery crude oil futures rose 1.85 U.S. dollars to close at 67.81 U.S. dollars a barrel, or 2.8 percent, the contract was trading down 4.3 percent. This month, crude oil futures were down 32.6 percent, the largest decline in history. U.S. stocks hit 21 years ago this month, the largest decline As of the close (4:00 am Beijing time), the Dow Jones Industrial Average rose 144.32 points to close at 9325.01 points, or 1.57 percent. This week, the Dow has risen 11.3 percent this month were down 14.1 percent. Led financial shares, JP Morgan rose 9.7 percent. Standard & Poor's 500 index rose 14.66 points to close at 968.75 points, or 1.54 percent. The index has gained 10.5 percent this week, this month were down 16.9 percent. Standard & Poor's 10 major industries of telecommunications services in the plate, the essential consumer goods and financial sector were among the biggest gainers. The Nasdaq composite index rose 22.43 points to 1720.95 points, or 1.32 percent. Nasdaq this week were up 10.9 percent this month were down 17.7 percent. Pavlik said that the "prudent investor, I continue to recommend medical and bulk goods, such as defensive stocks such as Johnson & Johnson, Celgene, Procter & Gamble, Colgate Palmolive and Celgene." Oil giant Dow constituent stocks of Chevron (CVX) rose 0.6 percent, the company's third-quarter profit rose 114 percent, to 79 million. The Washington Post (WPO) rose 8.1 percent, the company's third-quarter profit dropped from 72,500,000 U.S. dollars to 10,300,000 U.S. dollars. Video game developer Electronic Arts (ERTS) fell 17.8 percent, the company reduced losses and increased the annual performance goals. Sun Micro (JAVA) also issued late Thursday reported fiscal, the company's loss in the first quarter of 1,680,000,000 U.S. dollars. Stock down 12.1 percent. Car plate to become the focus of one of the market today. According to Reuters, as a result of the Bush administration will not provide financing for General Motors, General Motors (GM) and Chrysler merger between the impasse. General Motors fell 4.6 percent. Yahoo (YHOO) fell 0.8 percent. According to "The Wall Street Journal" reported by the Ministry of Justice as a result of opposition from Yahoo and Google (GOOG) search advertising network between the co-operation may be stranded. Ministry of Justice Thursday said it would stop Verizon Communications Inc. (VZ) to 28,000,000,000 U.S. dollars to buy Alltel Corp., Unless Verizon agreed to sell part of the 22 state-related assets. As a result of credit market conditions continue to improve, strong U.S. stocks rose Thursday. Dow Jones Industrial Average rose 189 points, S & P 500 rose 24 points, the Nasdaq composite index rose 41 points.