NEW YORK - The Dow Jones industrial average jumped more than 300 points in early trading today on top of yesterday's historic 936-point gain. Stocks are soaring for a second day as investors react enthusiastically to the government's plans to spend $250 billion to buy stock in private banks.
President Bush and other officials officially announced the plan before the opening bell Tuesday. Investors are hoping extraordinary steps by government officials will help resuscitate stagnant credit markets.
The Dow average is up 350 at the 9,738 level, and all the other major indexes are also showing big advances.