The markets do not open for another hour and 45 minutes but I just read some interesting news that could affect the stock market very positively today. Visa, the credit card company, is going public! The IPO (Initial Public offering) could raise up to $19.0 billion. So why is this important...Because creditors will reap the benefit and right now, creditors need all the help they can get.
Major lenders such as JPMorgan Chase, Bank of America, etc. all hold stock in Visa. A successful IPO could assist these banks in easing the credit crunch we've all been feeling lately! More to follow on the rate market around 10:00am. Good Luck.
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