Stocks rally on Obama’s plan, reports of automaker

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Stocks rally on Obama’s plan, reports of automaker
« Thread Started on Dec 8, 2008, 9:06pm »

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Stocks rally on Obama’s plan, reports of automaker aid
Posted: 05:47 PM ET
By Alexandra Twin
CNNMoney.com

NEW YORK (CNNMoney.com) — Stocks rallied Monday as investors welcomed President-elect Barack Obama’s plan to create jobs and revive the economy along with reports that government help for the automakers is on the way.

The Dow Jones industrial average jumped 298 points, or 3.5 percent. During the session, the Dow was up as much as 391 points and topped 9,000 for the first time in a month. It finished at 8,934.

The Standard & Poor’s 500 index added 3.8 percent and the Nasdaq composite gained 4.1 percent.