US: Wall Street jumps on hopes of US$2t stimulus

[NEW YORK] Wall Street jumped at the open on Tuesday as signs that Washington was nearing a deal on a US$2 trillion economic rescue package gave a shot of optimism to markets reeling under the biggest selloff since the global financial crisis.

The Dow Jones Industrial Average rose 1,130.26 points, or 6.08 per cent, at the open to 19,722.19. The S&P 500 opened higher by 107.04 points, or 4.78 per cent, at 2,344.44. The Nasdaq Composite gained 335.47 points, or 4.89 per cent, to 7,196.15 at the opening bell. 

REUTERS