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Stocks point sharply higher ahead of bank plan

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[March 23, 2009]  NEW YORK (AP) -- Stocks are pointing to a sharply higher open as investors await details of a government plan to help banks remove as much as $1 trillion in bad assets from their books.

Treasury Secretary Timothy Geithner is expected to detail a program Monday that would rely on the government's $700 billion financial rescue fund, the Federal Reserve and the Federal Deposit Insurance Corp., as well as private investors.

The goal is to remove toxic assets and boost lending.

Dow industrials futures are up 190, or 2.6 percent, at 7,405. Standard & Poor's 500 index futures are up 2.8 percent, while Nasdaq 100 index futures are up 2.5 percent.

[Associated Press; By TIM PARADIS]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.




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