The major indices climb to session highs, benefiting from the
higher-than-expected consumer confidence reading and encouraging
reports that a financial relief deal will be reached before the end of
the week.
As stocks climb, Treasuries go on the retreat. The benchmark 10-year note is down a full point, sending its yield up to 3.70%.
In another sign that the financial market turmoil is not just a U.S.
problem, three European governments are injecting an equivalent of $9.2
billion into Belgian bank Dexia, according to The Wall Street Journal.
The move comes after the bailouts of four European financial firms
yesterday, including Belgian bank Fortis.