Monday, October 13, 2008

US STOCKS-Wall St soars on bank rescue, Morgan deal

NEW YORK, Oct 13 (Reuters) - U.S. stocks extended sharp advances on Monday afternoon, following their worst week ever, as global efforts to recapitalize banks sparked a rally in financial shares, while credit markets showed some signs of loosening up.

The Dow Jones industrial average .DJI soared 654.79 points, or 7.75 percent, to 9,105.98. The Standard & Poor's 500 Index .SPX climbed 73.02 points, or 8.12 percent, to 972.24. The Nasdaq Composite Index .IXIC was up 135.91 points, or 8.24 percent, at 1,785.42. (Reporting by Leah Schnurr; Editing by Jan Paschal.

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