The stock market trades slightly below its recently reached session
high. Oil prices continue to surge higher, up 7.7% to $68.86 per
barrel.
General Electric (GE 20.89, +1.59) is showing notable strength,
rallying 8.2%. The Wall Street Journal reported earlier today, citing
sources, that the Treasury is considering investments in a broad range
of financial companies, not just banks and insurers. The report went
on to specifically mention GE's capital unit and CIT Group (CIT 5.89,
+1.37).
A GE spokesperson said a Treasury investment is not expected, but would consider an offer if one was made, Reuters reported.