Wall Street jumps after move on Fannie, Freddie

U.S. stocks opened sharply higher on Monday after the government's takeover of troubled mortgage financiers Fannie Mae and Freddie Mac raised hopes of a recovery in the U.S. housing market, sparking a global equity rally.
Financial and home builder shares were among the strongest gainers.
The Dow Jones industrial average was up 321.12 points, or 2.86%, at 11,541.43. The Standard & Poor's 500 Index was up 31.80 points, or 2.56%, at 1,274.11. The Nasdaq Composite Index was up 43.63 points, or 1.93%, at 2,299.51.