U.S. stocks extend rally on hopes for better times ahead

Date: Mon, 24 Mar 2008 21:06:03 (GMT)

U.S. stocks extend rally on hopes for better times ahead

U.S. stocks extend last week's solid gains, rallying as J.P. Morgan
agreed to increase its acquisition bid for Bear Stearns and as economic
data pointed to signs of stability in the troubled housing sector.

Bear Stearns shares double; J.P. Morgan Chase sweetens bid

Shares of Bear Stearns finish nearly 90% higher after J.P. Morgan raises
its buyout price for the firm to $10 a share from $2 a share.

Economic Report: Home resales rise in February on record price decline

Boosted by a record decline in prices, the U.S. housing market shows
signs of stability in February, with sales of existing home rising
modestly for the first time in seven months.

Commodities rebound, but more volatility is ahead

Commodity prices rebound following their plunge last week, but analysts
see more volatility in the short term and some are questioning the
fundamentals of the commodity bull market.