Stocks hold gains as Paulson speaks about plan

NEW YORK (AP) -- Wall Street is holding on to most of its gains after Treasury Secretary Paulson addressed the nation about a plan to relieve banks of their bad debts and restore the credit markets to health.

Paulson says he plans to work through the weekend with congressional leaders to reach agreement on a plan that would address the root problems of the financial crisis. He gave few details of how the plan would be structured.

The Dow Jones industrials are up about 324 at the 11,344 level. They were up more than 450 in the first half-hour of trading, but pulled back from that high as the market awaited Paulson's remarks.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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