Wall Street Bolts Out of the Gates

Wall Street kicked off the week with a strong start, with gains across the board.

In the first 15 minutes of trading, the Dow is up more than 160 points, or 1.8 percent.

The S&P 500 is up 1.6 percent and the Nasdaq is up 1 percent.

Analysts believe the market is trading higher largely due to the $586 billion Chinese stimulus plan announced yesterday, which also sent the Asian markets soaring.

Today's early surge comes despite two pieces of real-economy news: Ailing electronics retailer Circuit City has filed for Chapter 11 protection and carrier DHL said it is getting out of the U.S. business, a move that will cost 9,500 jobs here. On the other hand, DHL's exit is good news for UPS and FedEx.

-- Frank Ahrens

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