Wall Street opens higher after China stimulus - WKOW 27: Madison, WI Breaking News, Weather and Sports

Wall Street opens higher after China stimulus

NEW YORK (AP) -- Wall Street is getting a lift from China's $586 billion stimulus package, a move that investors believe will help ease the global economic downturn.

  The Dow Jones industrial average is up 173 points at the 9,116 level in the first minutes of trading, and all the major indexes are up more than 1 percent.

  The advance follows rallies in Asia and Europe after China announced plans to boost its economy through a mix of spending, subsidies, looser credit policies and tax cuts.

  The U.S. government, meanwhile, is providing new assistance to the troubled insurance giant American International Group Inc., including pouring $40 billion into the company in return for partial ownership.

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