US stocks leap after toxic asset plan unveiled
24 Mar 2009 12:42 AM
US stocks opened higher on Monday .. as the market cheered a long awaited government-private sector plan to clean up toxic assets clogging the balance sheets of banks.
The Dow Jones Industrial Average was up 141.05 points .. or 1.94 per cent .. at the opening bell to 7,419.43.
The tech-heavy Nasdaq rose 26.83 points .. or 1.84 per cent .. to 1,484.10 .. and the broad Standard and Poor's 500 was up 16.80 points .. or 2.19 per cent .. to 785.34.
Analysts say the market welcomed a public-private sector program by President BARACK OBAMA'S administration .. to help the ailing banking system recover from massive losses suffered in the US real estate meltdown.
AAP RTV srp/psm/
