House OKs bailout, stocks rise

NEW YORK Stocks are advancing but trading off their highs now that the House has approved the govern
Sandusky Register Staff
May 24, 2010

NEW YORK

Stocks are advancing but trading off their highs now that the House has approved the government's $700 billion financial rescue plan.

Investors have been anxious for resolution on the government's plan to buy up bad assets from banks and other institutions to shore up the financial industry and help resuscitate credit markets.

Trading across markets has been volatile throughout the week based on investors' reading of whether the plan would win approval. On Monday, the House's rejection took Wall Street and Capitol Hill by surprise.

The Dow Jones industrial average is up 169 at the 10,652 level after trading as high as 311.

Stay tuned for more updates.