Stock Futures Higher On Hopes Bailout Bill Will Be Revived

U.S. stock futures are pointing higher this morning, after yesterday's record point decline, on hopes Congress will revive the financial bailout plan. The bill failed in the U.S. House yesterday as Republicans pulled their support due to public opposition to the bill and its "Wall Street Welfare" stigma.

This morning, President Bush urged immediate action from Congress to get a bill passed as pressures in the credit markets continued, with Libor, the rate banks charge each other for loans, climbing 431 basis points to a new all-time high of 6.88%.

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