Wall Street Opens Higher on Bailout Hopes

NEW YORK - Stocks are higher in early trading as government officials move closer to a deal aimed at saving the crippled financial system.

But a credit market squeeze has intensified as doubts about the plan's effectiveness drive demand for very short-term, safe-haven assets including three-month Treasury bills.

Disappointing readings on employment and demand for big-ticket manufactured goods, as well as a sobering forecast from General Electric Co., are underscoring the broad effects of the more than year-old credit crisis.

The Dow Jones industrial average is up about 94 points at the 10,919 level.


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