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Manic Monday: Dow roars back from worst week ever

Traders work on the floor of the New York Stock Exchange, Monday Oct. 13, 2008. Wall Street snapped back Monday from last week's devastating losses after major governments announced further steps to support the global banking system, including plans by the U.S. Treasury to buy stocks of some banks. (AP Photo/Richard Drew)
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AP - 13 minutes ago

NEW YORK - Wall Street stormed back after its worst week ever and staged the biggest single-day stock rally since the Great Depression on Monday, catapulting the Dow Jones industrials to a 936-point gain and finally offering relief from eight consecutive days of stock market carnage.

  • Todd Landry with the Nebraska Department of Health and Human Services speaks at a news conference in Omaha, Neb., Monday, Oct. 13, 2008 after a Michigan mother drove roughly 12 hours to Omaha, so she could abandon her 13-year-old son at a hospital under Nebraska's unique safe-haven law. 'I certainly recognize and can commiserate and empathize with families across our state and across the country who are obviously struggling with parenting issues, but this is not the appropriate way of dealing with them, whether you're in Nebraska or whether you're in another state,' said Landry. (AP Photo/Nati Harnik)
    Second out-of-state teen abandoned at Omaha hospital AP - 2 minutes ago

    OMAHA, Neb. - A Michigan mother drove roughly 12 hours to Omaha, so she could abandon her 13-year-old son at a hospital under the state's unique safe-haven law, Nebraska officials said Monday.

  • Cynthia Preloh, with her husband Brian Preloh, rests in her hospital room after a kidney transplant at Georgetown University Hospital in Washington, Wednesday, Oct. 8, 2008. Preloh underwent an unusual procedure that allowed her to receive a kidney from her son, a kidney that she would otherwise have rejected. Preloh wasn't expected to survive the wait for a standard cadaver kidney. (AP Photo/Manuel Balce Ceneta)
    Therapy helps hard-to-transplant get a new kidney AP - 12 minutes ago

    WASHINGTON - Nearly one in three patients who need a kidney transplant may never get one because their bodies are abnormally primed to attack a donated organ. Now doctors are trying new ways to outwit the immune system and save more of those so-called "highly sensitized" patients — often with kidneys donated by living donors, considered the optimal kind.

  • In this April 14, 2008 file photo, actress Maureen McCormick poses in the press room at the 2008 CMT Awards in Nashville, Tenn. (AP Photo/Evan Agostini, file)
    McCormick tells all about 'Brady' drug addiction AP - 19 minutes ago

    NEW YORK - As Marcia Brady on "The Brady Bunch," Maureen McCormick projected an image of the wholesome girl next door. But off camera, she spiraled downward into drug addiction and depression.

  • Brandon LaFuentes inserts a prosthetic eye into eye socket of KBuck, a miniature show horse, on Sept. 24, 2008, in Oklahoma City. The 65-pound horse was born June 1 at Lil Chums Miniature Horse Farm in Lawton, Okla., and lost its eye a few days after birth. (AP Photo/The Oklahoman, Jim Beckel)
    Prosthetic eye gives horse a shot at show career AP - 1 hour, 7 minutes ago

    LAWTON, Okla. - A miniature horse has been given a second chance for a career as a show horse — thanks to a prosthetic eye. The 65-pound horse, named KBuck, was born June 1 at Lil Chums Miniature Horse Farm in Lawton and lost its eye a few days after birth. Owner Kelsey Chumbley, 12, said she suspects the young horse was the victim of a swift kick from its mother.

  • In this May 1, 2008 file photo, Kentucky Derby hopeful Big Brown is seen at Churchill Downs in Louisville, Ky. Kentucky Derby and Preakness winner Big Brown's racing career is over after injuring his right front foot during a workout at Aqueduct on Monday Oct. 13, 2008. (AP Photo/Ed Reinke, File)
    Kentucky Derby winner Big Brown suffers career-ending injury AP - 20 minutes ago

    Big Brown's racing career ended Monday when the Kentucky Derby and Preakness winner injured his right front foot during a workout at Aqueduct Race Course in New York. Michael Iavarone of IEAH Stables, co-owners of Big Brown, said the 3-year-old colt tore a three-inch piece of flesh off the foot after it collided with his right rear foot while working over Aqueduct's turf course with stablemate Kip Deville.

  • A trader claps on the floor of the New York Stock Exchange October 13, 2008. (Shannon Stapleton/Reuters)
    Wall Street soars 11 percent on bank rescue and Morgan deal Reuters - 1 hour, 11 minutes ago

    NEW YORK (Reuters) - Wall Street roared back from its worst week ever with one of its best single days ever on Monday, as governments pledged to pour cash into struggling banks to restore confidence in a rocky global financial system.

  • A man walks next to painted pictures of Republican presidential nominee Senator John McCain (R-AZ) and Democratic U.S. presidential nominee Sen. Barack Obama (D-IL) outside of Cape Fear community college in Wilmington, North Carolina October 13, 2008. (Carlos Barria/Reuters)
    McCain tries fresh comeback bid Reuters - 1 hour, 43 minutes ago

    WILMINGTON, North Carolina (Reuters) - Republican presidential nominee John McCain on Monday sought to assure supporters he can come from behind to defeat Democrat Barack Obama, who proposed new ways to address the economic turmoil.

  • Traders in the S and P 500 pit of the Chicago Board of Trade signal orders shortly after the opening bell in Chicago, Illinois October 13, 2008. (Frank Polich/Reuters)
    Governments to buy bank stakes; stocks soar Reuters - 57 minutes ago

    NEW YORK (Reuters) - Governments around the world bet hundreds of billions of dollars to rescue failing banks on Monday, sending world stocks soaring and giving Wall Street its biggest one-day gain ever.

  • A satellite image taken September 11, 2005, of the five-megawatt reactor site at Yongbyon nuclear facility in North Korea. REUTERS/DigitalGlobe-ISIS/Files
    N.Korea to resume atom closure Tuesday Reuters - Mon Oct 13, 2:51 PM ET

    VIENNA (Reuters) - North Korea on Monday restored U.N. monitors' access to its atom bomb complex and will resume disabling its nuclear reactor on Tuesday, the U.N. nuclear watchdog said, after a deal with Washington to save the process.

  • The exterior of the headquarters of investment bank Morgan Stanley is pictured in New York City, September 17, 2008. (Mike Segar/Reuters)
    Morgan Stanley shares soar as MUFG deal closes Reuters - 1 hour, 50 minutes ago

    NEW YORK (Reuters) - Morgan Stanley stock nearly doubled after Japan's Mitsubishi UFJ Financial Group Inc (MUFG) completed its $9 billion investment in the bank on Monday.

  • Democratic presidential nominee Senator Barack Obama speaks to hotel employees in Oregon, Ohio October 12, 2008. (Jim Young/Reuters)
    Obama lays out modest steps on economy Reuters - 2 hours, 9 minutes ago

    TOLEDO, Ohio (Reuters) - Democratic presidential nominee Barack Obama on Monday proposed tax credits and other steps to create jobs and to cushion Americans against the economic downturn but analysts described his ideas as modest.

  • U.S. economist Professor Paul Krugman speaks at the one-day conference in Jakarta in this August 29, 2000 file picture. Krugman won the 2008 Nobel prize for economics for bringing together analysis of trade patterns and where economic activity takes place, the prize committee said on October 13, 2008. Picture taken August 29, 2000. (Str/Reuters)
    Bush critic wins 2008 Nobel for economics Reuters - 1 hour, 18 minutes ago

    STOCKHOLM (Reuters) - U.S. economist Paul Krugman, a fierce critic of the Bush administration for policies that he argues led to the current financial crisis, won the 2008 Nobel prize for economics on Monday.

  • Russian soldiers on a military vehicle leave a base in the western Georgian city of Senaki August 19, 2008. (Umit Bektas/Reuters)
    U.S. to take part in Russia-Georgia talks: diplomats Reuters - 1 hour, 30 minutes ago

    GENEVA (Reuters) - The United States will join the talks Russia and Georgia are holding on Wednesday following their war in August, diplomats said on Monday.

  • French President Nicolas Sarkozy issues a statement following a special cabinet meeting, at the presidential Elysee Palace in Paris. Governments around the world launched multi-pronged attacks on the financial crisis Monday, sparking record gains on stock markets amid hopes of recovery in the humbled banking sector.(AFP/Gerard Cerles)
    Markets surge as govts unveil crisis packages AFP - 1 hour, 1 minute ago

    WASHINGTON (AFP) - Governments around the world launched multi-pronged attacks on the financial crisis Monday, sparking record gains on stock markets amid hopes of recovery in the humbled banking sector.

  • Zimbabwe President Robert Mugabe, seen here in August 2008, has sworn in his two vice presidents, casting doubt on a new mediation effort aimed at saving a power-sharing deal with the opposition.(AFP/File/Paballo Thekiso)
    Mbeki visits Zimbabwe in bid to save fragile power-sharing deal AFP - 49 minutes ago

    HARARE, Oct 13, 2008 (AFP) - Former South African President Thabo Mbeki arrived in Zimbabwe Monday in a bid to save a power-sharing deal after Robert Mugabe cast further doubt on the accord by swearing in two vice presidents.

  • A man sits on the corner selling portraits of former US Presidents, as well as current US presidential candidates Barack Obama (C) and John McCain (R), outside a rally in Wilmington, North Carolina. Republican John McCain confessed Monday his WHouse odds looked daunting as rival Barack Obama built a commanding poll lead, but insisted he was the experienced hand that a nation in crisis requires.(AFP/Jim Watson)
    McCain vows greatest comeback yet AFP - 39 minutes ago

    WILMINGTON, North Carolina (AFP) - Republican John McCain confessed Monday his White House odds looked daunting as rival Barack Obama built a commanding poll lead, but insisted he was the experienced hand that a nation in crisis requires.

  • TV still shows the public demolition of North Korea's cooling tower at its Yongbyon nuclear complex in June. North Korea has granted the UN atomic watchdog access to its nuclear facilities at Yongbyon after having barred agency inspectors last week, the IAEA said Monday, following a deal between Washington and Pyongyang.(AFP/CCTV/File)
    NKorea grants UN nuclear watchdog access to Yongbyon: IAEA AFP - 1 hour, 14 minutes ago

    VIENNA (AFP) - North Korea has granted the UN atomic watchdog access to its nuclear facilities at Yongbyon after having barred agency inspectors last week, the IAEA said Monday, following a deal between Washington and Pyongyang.

  • Paul Krugman speaks in New York City, 2007. Krugman said Monday that the global financial crisis is "terrifying," but expressed cautious hope that a corner is being turned.(AFP/Getty Images/File/Brad Barket)
    Bush critic Krugman wins Nobel Economics Prize AFP - Mon Oct 13, 11:56 AM ET

    STOCKHOLM (AFP) - US economist Paul Krugman, a fierce critic of President George W. Bush's handling of the global financial crisis, on Monday won the 2008 Nobel Economics Prize.

  • The Morgan Stanley headquarters in New York. Shares in Morgan Stanley soared 87 percent on Monday after the US investment bank secured a cash injection of 9.0 billion dollars from Mitsubishi UFJ Financial Group, Japan's largest bank.(AFP/Getty Images/Stephen Chernin)
    Shares in Morgan Stanley soar 87 pct after MUFG deal AFP - 43 minutes ago

    NEW YORK (AFP) - Shares in Morgan Stanley soared 87 percent on Monday after the US investment bank secured a cash injection of 9.0 billion dollars from Mitsubishi UFJ Financial Group, Japan's largest bank.

  • The US Treasury named Chicago firm EnnisKnupp Monday as its investment adviser on a 700 billion dollar bailout plan which will see the government buy toxic assets from the banks in an effort to get them lending again.(Ennisknupp)
    US Treasury names Chicago firm as adviser on bailout plan AFP - Mon Oct 13, 2:52 PM ET

    WASHINGTON (AFP) - The US Treasury named Chicago firm EnnisKnupp Monday as its investment adviser on a 700 billion dollar bailout plan which will see the government buy toxic assets from the banks in an effort to get them lending again.

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