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New York (AP)

Stocks open higher, extend Monday's huge rally

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Stocks are soaring for a second day as investors react enthusiastically to the government's plans to spend $250 billion to buy stock in private banks.

The advance - which has already taken the Dow Jones industrials up more than 300 points - follows the Dow's historic 936-point jump Monday, when investors were buying in anticipation of the government's plan.

President Bush and other officials officially announced the plan before the opening bell Tuesday. Investors are hoping extraordinary steps by government officials will help resuscitate stagnant credit markets.

The Dow average is up 350 at the 9,738 level, and all the other major indexes are also showing big advances.