NEW YORK – Wall Street is sharply higher in early trading as investors are optimistic that President-elect Barack Obama's infrastructure-spending package will help boost the crippled economy.
Obama announced plans for the largest U.S. public works spending program since the creation of the interstate highway system a half-century ago. That could bolster the economy by putting thousands of people to work.
Investors also appear more comfortable that the government is closer to a bailout of America's three biggest automakers. Congress is expected to pass a $15 billion bailout for Ford Motor Co., General Motors Corp., and Chrysler as soon as Tuesday.
The Dow Jones industrial average is up 190 at 8,826. All the major indexes are up 2 percent or more.