Stocks surge higher on word Geithner will head Treasury

Date: Fri, 21 Nov 2008 17:01:37 -0500

U.S. stocks rally on report President-elect Barack Obama would
nominate Timothy Geithner to be the nation's Treasury secretary.

GEITHNER, CLINTON, RICHARDSON TAPPED FOR KEY OBAMA POSTS

Reaching out to veteran policy-makers in a troubled economic climate,
President-elect Barack Obama reportedly fills three critical posts for
his administration.

DEBATE OVER 'MARK-TO-MARKET' ACCOUNTING RAGES ON

The debate at the Securities and Exchange Commission over whether the
agency should maintain or change controversial "mark-to-market"
accounting regulations rages on.

FUTURES MOVERS: OIL ENDS SLIGHTLY HIGHER, BUT DROPS 13% ON THE WEEK

Oil futures end slightly higher Friday but post a weekly loss of 13%,
as analysts express doubt about whether oil prices can stage a
significant rebound in the face of slumping energy demand.

WAL-MART MAKES SURPRISE CEO APPOINTMENT

In a surprise move, No. 1 retailer Wal-Mart Stores names its top
international executive, Mike Duke, to succeed Lee Scott as president
and chief executive officer.