Wall Street Extends Dow's Rally to Third Day

By: Joe Bel Bruno AP
By: Joe Bel Bruno AP

NEW YORK (AP) - Wall Street has ended an uneven yet generally calm session mostly higher. Investors selectively bought stocks after being encouraged by a government plan to aid consumer lending companies.

Both the Dow Jones industrial average and Standard & Poor's 500 index rallied for a third straight session, the first time the Dow has accomplished that feat since late August, and the first time the S&P 500 has done it since mid-September.

Stocks fluctuated during most of the day, with some profit taking expected considering the sizable gains.

Investors were encouraged after the Treasury Department and the Federal Reserve said they planned to provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans
cheaper and more available. The program is aimed at reviving moribund credit markets.

The Dow rose 36 points to the 8,479 level.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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