Title: Talk Around the Globe: Obama and the markets

" Around the globe on CN. In today's talk around the globe market reaction to the new Obama presidency there was no Obama bounce on inauguration day but today the first full day of his administration. Wall Street -- rebound president Obama has said that fixing the nation's. Economy remains his biggest challenge -- and -- a talk a little bit more business reporter rob -- and -- in the globe newsroom hi rob. That's how you doing well thanks for joining us so let's talk about what the markets did today first stop it was quite a reversal. Especially for financials and tech stocks."

" You know the book the market rebounded strongly in it and along the with came out of that hearing today. The confirmation hearing for. -- Treasury Secretary designate Tim Geithner. They studio not the Obama administration signaled that. They're gonna do something to shore up banks to recapitalize them to get some of those that so called toxic assets. Off their books so hopefully -- that attract more private investment and get them lending again."

" We had some bad news out of the banking sector yesterday many of the big points continuing to believe despite. The first half of that 700 billion dollar rescue package what are analysts saying needs to happen with the banking sector. First of all."

" What needs to happen a lot of them say is that we've got to fix we've got to fix the housing market. Because I was really causing a big drag on thanks. The office saying that. They YouTube would continue to pump more capital into them again sort of taking taking a stake so that when things get better than taxpayers who get paid back. On the other thing missing is again is that. They moved to third initiative program to start buying up these mortgage backed securities and other so called. Toxic assets and our that are that are dragging them down losing their valuing and and and pushing banks towards the red."

" We mentioned -- the enthusiasm from Obama's inauguration in Washington did not spill over to Wall Street yesterday. What's behind yesterday's selloff will."

" And again opponents in the banking center and and basically you know despite a new president was still a very deep recession. That for the time being seems to have no -- side and that's what the market is reacting to. I think the recession gets worse all right foreclosures go up. People -- defaulting on their credit cards and other consumer loans and that is bad for banks and that's what that's what drove the market down yesterday this idea that. That that. That there was really no no way to fit to be very difficult to pick the banking system."

" Another question that many analysts are scratching their heads over is whether or not. Obama's proposed 825. Billion dollar stimulus package will do anything to help the economy."

" Let's say the big question about the sort of federal that what they called the fiscal stimulus coming out of Washington insists that it takes time to pass flew past the laws. It takes time to put him in place. And very often and by the time the money I think it's flowing. That the recovery is underway and has a potentially inflationary. The -- administration I was was trying very hard to get the money into the economy very quickly and the tax cut part of it is not. That the two part to tax cut part and increasing benefits to unemployed. There's one way that they hope will get will get the money into the economy quickly helped stabilize that and that can be followed up by spending time. Roads bridges highways et cetera."

" I'm rob get and we appreciate your time thanks for joining us through death."