Breaking news: Stocks surge; Dow up almost 500 points

Date: Fri, 21 Nov 2008 15:17:52 -0600

NEW YORK (AP) - Stocks surged late Friday on news that President-elect
Barack Obama is likely to name New York Federal Reserve President
Timothy Geithner as Treasury secretary. The Dow Jones industrial
average jumped 494.37 points, or 6.55%, at 8,046.66. The Standard &
Poor's 500 Index shot up 47.57 points, or 6.32%, at 800.01. The Nasdaq
Composite Index gained 68.23 points, or 5.18%, at 1,384.35.