US stocks jump on Geithner news

Wall Street is ending a volatile week with an unexpected jolt of confidence following reports that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary.

US stocks jump on Geithner news
Fri, 21 Nov, 2008 - 21:48

Wall Street is ending a volatile week with an unexpected jolt of confidence following reports that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary.

The major indexes have jumped more than 5%, with the Dow Jones industrials surging nearly 500 points.

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