US markets gained, sending the Dow Jones to its best two-day rally in a month, sentiment boosted by hopes of stimulus package and financials rise on hopes of bailout plan.
On hopes of that the congress will approve Obama's economic stimulus package, nearly 12% surge in bank shares led Wall Street higher. Investors anticipate the plan scheduled to be announced anytime soon by treasury Secretary Timothy Geithner will shore up banks' balance sheets and spur lending.
The Dow Jones rose 218 points to close at 8,280. The S&P 500 gained 23 points to shut shop at 868 while the NASDAQ was up 45 points to close at 1,592.
In the latest sign of the deteriorating economy, a report showed u-s nonfarm payrolls fell in January by the most since December 1974 as the recession deepened, sending the unemployment rate up to 7.6%.
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