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Asian stock markets extended their rally after Wall Street surged on hopes a U.S. plan to rid banks of festering debts at the heart of the financial crisis will revive growth. European markets were mixed in early trade.

Markets will again be looking to Washington for direction

News at a GlanceHitting the Hill: Bernanke and Geithner to address House.Not So Fast: Stock futures point to lower open after rally.Crude Slips: Oil takes a step back before the opening bell.Stepping Down: Several AIG financials execs leaving firm.The LowdownThe euphoria on Wall Street has worn off.A day after the major indexes surgerd on the Treasury's plan to cleanse banks of as much as $1 trillion of their bad assets, stocks looked to open a bit lower, as traders awaited more information about the program. Shortly before 6 a.m., Dow, Nasdaq and S&P 500 futures were trading below fair value.Treasury Secretary Timothy Geithner and Federal Reserve chairman Ben Bernanke will discuss the plan, as well as executive compensation, when they address the House Financial Services Committee later this morning.Geithner broke out the details of his plan to help banks shed their toxic holdings in a hybrid sale to the public backed by the government.Financials may also be influenc

Tourism is down in Florida, and convention hotels have taken a big hit. A major reason is the new austerity adopted by corporations — especially financial services companies. Several big conferences have been canceled, forcing hotels to cut costs and adopt new marketing that downplays the amenities and luxuries that have made the resorts so popular.

Japan extends its ban on naked short selling to the end of July as the country's share markets remain shaky.

FRANKFURT (AP) - German retailer Metro AG said Tuesday its 2008 net profit fell sharply and that it expects 2009 sales growth to be markedly below target, negatively affecting earnings for the year.

The Australian stock market has closed higher after a strong lead from the US and gains in the resources sector.

HONG KONG (Reuters) -- Asia stocks struck two-month highs on Tuesday and higher-yielding currencies jumped against the yen as Washington's plan to relieve banks of toxic debt spurred investors to pick...

Forex - Markets Rally on Enthusiasm Over Treasurys PlanForex Hound, NYMarkets responded positively to yesterday's US Treasury Department proposed Public-Private Investment Program. The Samp;P rose a massive 7.1, while the AUDUSD has broken strongly through the 0.7000 level (currently trading at 0.7040), as risk appetite ...

Falling home prices pushed up South Florida sales in February as bargains on foreclosures drew in new buyers despite fears of a worsening recession.