Home Sales & Government Plan to Aid Banks Help Market Soar Nearly 500 Points

MSNBC: Wall Street got the news it wanted on the economy’s biggest problems — banks and housing — and celebrated by hurtling the Dow Jones industrials up nearly 500 points.



Investors added rocket fuel Monday to a two-week-old advance, cheering the government’s plan to help banks remove bad assets from their books and also welcoming a report showing a surprising increase in home sales. Major stock indicators surged more than 6 percent, including the Dow, which had its biggest percentage gain since October.