Stocks rallied Friday, with the Dow soaring nearly 500 points,  following news that President-elect Barack Obama is expected to announce two key cabinet posts.

Stocks woke up Friday following news that President-Elect Barack Obama is expected to announce two key cabinet posts.

Mortgage finance company Freddie Mac said Friday it received a noticed that it may lose its listing on the New York Stock Exchange because its share price has been under $1 for more than 30 days.

Stocks bounced back Friday after a two-day selloff that saw major indexes crash through support levels and shaved 872 points off the Dow.

U.S. stocks looked set for an end-of-week rally Friday with the Dow futures gaining around 200 points ahead of the open, but recent declines have left investors with little trust in upswings.

Fannie Mae and Freddie Mac, the two biggest home loan finance companies, on Thursday said they would suspend foreclosures of occupied homes until early 2009, one of the biggest moves to date by the government to stem the tide of evictions and home losses.

Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures during the holiday season.

Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 households during the holiday season.

Stocks plunged Thursday as anxiety about the economy and the government's wheel-spinning on the auto bailout and TARP plagued the market throughout the day, culminating in a massive final hour selloff. The Dow ended below 7,600, a more than five-year low. The S&P closed at an 11 1/2-year low.

CHICAGO (Reuters) - Bank of America Corp <BAC.N> Chief Executive Kenneth Lewis on Thursday blamed much of the current credit crisis on lax regulation by state officials and said all "systemically important" financial institutions need some form of federal oversight.

Stocks wobbled as key lawmakers said an auto bailout deal might have to wait until December.

Stocks opened sharply lower Thursday as jobless claims hit a 16-year high, exacerbating anxiety in the market about the faltering auto bailout and uncertainty about the TARP plan.

Futures tumbled Thursday after jobless claims jumped to a 16-year high. This followed Wednesday's crushing selloff that saw the Dow close below 8,000 for the first time in more than five years.

A monthly forecast of economic activity is expected to drop in October as the effects of job losses and declining consumer spending spread.

Top lawmakers threw their support Tuesday behind a proposal to use $24 billion in government funds to help struggling borrowers, as reports showed U.S. home prices sinking in four out of five cities and homebuilders reported their worst-ever business outlook.