Dec 8, 2008 7:20 pm US/Eastern
Dow Up Nearly 300 Points On Obama Economic Plan
NEW YORK (AP) ―
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A stock market growing in confidence rallied for a second straight session Monday as investors bet that President-elect Barack Obama's plan to dramatically ramp up infrastructure spending would help boost the crippled economy. (File)
Timothy A. Clary/AFP/Getty Images
A stock market gaining in confidence has shot higher for a second straight session as investors bet that President-elect Barack Obama's plans to increase infrastructure spending will lift the economy back to health.
The major market indexes have advanced more than 3 percent, and the Dow Jones industrial average is up 298 at 8,934, giving it a 558-point advance over two sessions.
Investors lured by inexpensive stocks were cheered by Obama's plans announced over the weekend for the largest U.S. public works spending program since the creation of the interstate highway system a half-century ago.
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