Chinese Stimulus Lifts Dow

Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a 7.3% boost for the Shanghai Composite and a 5.8% boost for the Nikkei.

Oil climbed $2.76 to $63.80 a barrel, while gold rose $16.40 to $750.60 an ounce. Among the stocks on the move, Circuit City plunged 55% pre-market after filing for bankruptcy, while AIG jumped 19% as the government announced plans to replace its old bailout of the insurer with a new $150 billion one. (More stock market stories.)