NEW YORK (AP) -- Stocks bounced back Tuesday, regaining a good chunk of the ground lost Monday.
Stock Indexes at Close Tuesday
Advancing issues on the New York Stock Exchange led losers better than 3-1, on volume of about 5.2 billion shares.
Fresh details from the Federal Reserve on its efforts to combat the recession helped offset mixed readings on the service sector, factory orders and pending home sales. While investors expected the data to show further deterioration, they were hoping the pace of the declines would slow.
The market is eager for signs that the recession will end this year.
Banks Get $15 Billion More In Bailout
In the latest round of bank bailouts, the U.S. Treasury gave another $15 billion to seven banks as part of the $700 billion rescue plan.
The biggest payment went to PNC Financial, which received $7.5 billion.
The latest payments bring the amount the government has committed to buying bank stock to $187.5 billion.
The Treasury Department has now committed the first half of the $700 billion, and would need congressional approval to use the final $350 billion.
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