Lehman shares spike in early action Friday

NEW YORK (MarketWatch) — Shares of Lehman Brothers spiked higher early Friday, as the broader financial sector also rose as they awaited Federal Reserve chief Ben Bernanke’s speech on financial stability at 10 a.m. Lehman shares rose 15% on talk of a potential acquisition of the bank. Meanwhile, both U.S. mortgage giants Fannie Mae and Freddie Mac gained at the opening bell, with Fannie rising 7.6% and Freddie gaining 9.8%. The Financial Select Sector SPDR , an ETF tracking financials in the S&P 500, gained 2.8%, while the Amex Securities Broker/Dealer Index gained 1%.
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Original post by Forextvblog

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