Wall Street extended its big advance today as investors applauded a new agreement that will give Bear Stearns shareholders five times the payout that was set in a JP Morgan Chase buyout deal a week ago.

GARDA cordon tape flapped in the wind yesterday, crossing through family driveways. Passersby, mothers with prams, stopped in silence as white-suited men stepped out of unmarked garda cars.

Wall Street bolted higher today after Standard & Poor’s affirmed its ratings for Ambac Financial Group Inc. and MBIA Inc., raising hopes that troubled bond insurers will emerge from the credit market crisis on solid footing. The Dow Jones industrials rallied nearly 190 points.

Stocks gave up early gains to close sharply lower today as investors grappled with concerns about the strength of consumer spending and the overall US economy after downbeat comments from JC Penney and Wells Fargo.