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Investors Boost US Markets in Late Trading


A late surge lifted U.S. stocks Thursday, with investors motivated by falling oil prices and evidence of a thaw in credit markets.

The major U.S. stock indexes soared more than four percent, after a volatile day of trading. The indexes had fallen in midday trading after new U.S. government reports showed industrial output in September fell almost three percent (two-point-eight percent), the biggest decline in 34 years.

Another report Thursday said economic activity in the eastern U.S. plunged in October, raising new fears that efforts to help troubled financial institutions will not stop the economy from entering a recession.

U.S. Treasury Secretary Henry Paulson said in a television interview on Fox Business News that he is not proud of the mistakes that led to the financial turmoil, such as regulatory and market discipline failures. But he stressed that he has no regrets about the steps the government has taken to address the crisis.

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