On a separate note, Treasury Secretary Timothy Geithner said that the economic recovery of the United States will have more than the usual ups and downs and that the government is preparing to shift its focus from rescuing the economy to repairing and rebuilding its foundation for future growth. This is yet another indicator that the worst may be over.
Overall, all three major U.S. indexes are up in morning trading with the Dow Jones Industrial Average up 0.1%, the S&P 500 gaining 0.3% and the Nasdaq adding 0.2%.
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Kevin Grewal contributed to this article.