Friday February 13, 2009, 5:34 pm ESTNEW YORK (AP) -- Investors sent Washington a message this week: They won't commit to stocks until the government commits to a plan. Stocks ended lower Friday, pushing the Dow Jones industrial average to its lowest close since last November and leaving it with a weekly decline of 5.2 percent.
The gears are moving in Washington. On Friday, the White House said President Obama will outline steps to stem home foreclosures next Wednesday, and the House passed a $787 billion economic stimulus bill.
Wall Street is focused, though, on lingering uncertainties. The stimulus package -- too big for some, too small for others -- is far from proving itself effective in reviving the economy. Investors also hesitated to get too excited about the upcoming announcement on preventing home foreclosures, after their hopes got dashed earlier in the week. more...
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