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SUNDAY, NOVEMBER 8, 2009
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 MARKET OPEN 
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Chinese Stimulus Lifts Dow

Index surges 150+ at open, following Asian lead

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(Newser) – Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a 7.3% boost for the Shanghai Composite and a 5.8% boost for the Nikkei.

Oil climbed $2.76 to $63.80 a barrel, while gold rose $16.40 to $750.60 an ounce. Among the stocks on the move, Circuit City plunged 55% pre-market after filing for bankruptcy, while AIG jumped 19% as the government announced plans to replace its old bailout of the insurer with a new $150 billion one.

Traders on the floor of the New York Stock Exchange watches President-elect Barack Obama's news conference Friday.
Traders on the floor of the New York Stock Exchange watches President-elect Barack Obama's news conference Friday.   (AP Photo)
Traders wait for General Motors earnings report on the floor of the New York Stock Exchange Friday.
Traders wait for General Motors earnings report on the floor of the New York Stock Exchange Friday.   (AP Photo)
Traders work on the floor of the New York Stock Exchange.
Traders work on the floor of the New York Stock Exchange.   (AP Photo)
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