Stock Market: Looking Better

After yesterday's 2,000 point drop, things are looking much better today at the New York Stock Exchange.

From CNBC:

9:32 am: Stocks jump at the open, Dow surges more than 800 points 

Stocks jumped at the open a day after posting the steepest declines since the financial crisis. The Dow Jones Industrial Average rose 831 points for a gain of 3.5%, while the S&P 500 and Nasdaq each rose 3.2%. The rise erases less than half of Monday’s sharp losses, however. - Stevens 

9:22 am: Fed pumps another $168 billion into financial system 

The Federal Reserve’s increased bank funding operations continue to see plenty of demand. Separate auctions Tuesday in the short-term lend market, or repo, saw a two-week offering massively oversubscribed, with $93 billion offered for a $45 billion operation. An overnight offering saw the New York Fed’s trading desk fill $123.625 billion in bids. Earlier this week, the Fed increased the size of the offerings from $100 billion to at least $150 billion for overnight repo, and from $20 billion to at least $45 billion. The repo auctions involve financial institutions providing high-quality collateral for the short-term funding banks use for their operations. The Fed began conducting these repo operations after market tumult in September briefly sent short-term yields soaring. – Cox