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The Markets Now: Stocks Rebound; Dell Goes Private
Stocks rebounded from yesterday's losses and Dell (NASDAQ:DELL) agreed to be bought in a $24.4 billion deal with Silver Lake Partners. In economic news the ICSC-Goldman store sales index showed strong consumer spending as the index rose 2.4%. Federal Reserve Governor Elizabeth Duke reassured bankers that the economy would come back strong saying “The interest margin pressure banks face today is partly due to low interest rates and partly due to low demand both of which are consequences of a sluggish economy. As the economic recovery gains momentum however both of these conditions should reverse and give bankers the ...
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