Wall Street headed to a lower start while the Treasury market calmed only slightly Monday as investors cautiously awaited further news about the government's plan to buy $700 billion in banks' mortgage debt.
Dow Jones industrial average futures were down moderately, and the yield on the 3-month Treasury bill remained below 1 percent, indicating that investors were still willing to take low returns on a safe asset.
Investors are relieved that federal authorities are taking action to relieve the nation's banks of their toxic assets. But it is not sure yet how successful the plan will be in loosening up the credit markets and propping up the sinking housing …
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