Wall Street Rallies After a Day of Good News

By: Madlen Read AP
By: Madlen Read AP

NEW YORK (AP) - Investors have been clamoring for months for a
bit of good news. On Thursday, they got a load of it.

The Dow Jones industrials shot up about 240 points, bringing its gains over the past three days to more than 600 points. It is the index's biggest three-day jump since last November.

The gains came as an accounting board told Congress it may recommend a let-up in accounting rules for troubled banks.

Stocks also got a boost after Bank of America's CEO said the company has been profitable this year and General Electric got its credit rating cut less than expected. General Motors also said it will not need a $2 billion loan it previously requested from the government.

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