Wall St. jumps on bank-rescue plan; Starbucks hit late (Reuters)

S&P 500 's longest winning streak since November, as financial stocks soared on optimism the Obama administration was making progress on a plan to relieve banks of money-losing assets.

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Stocks initially added gains following the Federal Reserve's statement that it is prepared to buy long-term U.S. government debt, but the boost faded upon the realization that the Fed's purchases won't be made any time soon. Financial stocks stood out, with JPMorgan ( JPM .N) among the Dow's top advancers with a gain of 10.4 percent.

Full Story: Wall St. jumps on bank-rescue plan; Starbucks hit late (Reuters)