U.S. stocks mostly advanced Monday as investors putdown bets that a recovery in the financial and housing sectors is in the offing following the U.S. government's move to bail out mortgage giants Fannie Mae and Freddie Mac.
The Dow Jones industrials gained more than 150 points but the technology-heavy Nasdaq composite index declined.
The announcement Sunday that the Treasury Department was seizing control of the companies, which own or back about half of America's mortgage debt, brushed aside investors' long-simmering worries that the pair would be felled by a spike in bad mortgage debt.
The plan touched off a global stock rally Monday.
Foreign investors holding debt of the companies were relieved as were investors simply looking for stronger growth from the U.S. economy, particularly as many economies abroad give off signs they are slowing.
The announcement Sunday that the Treasury Department was seizing control of the companies, which own or back about half of America's mortgage debt, brushed aside investors' long-simmering worries that the pair would be felled by a spike in bad mortgage debt.
The plan touched off a global stock rally Monday.
Foreign investors holding debt of the companies were relieved as were investors simply looking for stronger growth from the U.S. economy, particularly as many economies abroad give off signs they are slowing.
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