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Stocks Soar On Hopes Of Credit Recovery: Dow Gains 400 Points As Lending Rates Ease, Fed Chair Pushes Economic Stimulus (CBS/AP, Oct. 20, 2008)

Wall Street surged on a burst of optimism Monday, propelling the Dow Jones industrials up more than 400 points on more signs of a reviving credit market and comments from Federal Reserve Chairman Ben Bernanke. All the major indexes finished with gains of 3 percent or more.

Investors who had sold furiously in recent weeks in response to immobile credit markets became more optimistic as bank-to-bank lending rates eased further. There's also less demand for ultra-safe Treasury bills, another sign that the credit markets are gradually returning to a healthier state. And Bernanke has hinted that the government will take more steps to help the economy.