Recovery: Blue chips rally on Wall Street
U.S. equity markets soared Wednesday in a tech-led rally, as Wall St. bulls found their long-dormant confidence boosted by President Bush's stimulus proposal and strong economic data.
The day after the Federal Reserve cut interest rates to the lowest level in nearly 40 years, the Dow Jones industrial average closed above 9,000 for the first time since the September 11 terrorist attacks.
The Dow industrials rose 173.19 to 9,123.78. The Dow rallied from being down 89 points in the first minutes of the trading day. The Nasdaq composite index rose 88.49 to 1,580.82 after being down as much as 19 points earlier in the session. The Standard & Poor's 500 index was up 20.95 to 1,072.28.(Full story)
President Bush traveled to New York City Wednesday to meet with Gov. George Pataki, Mayor Rudy Giuliani and national business leaders to discuss recovery efforts.
At a news conference, the president said the administration will seek a stimulus package of $60 billion to $75 billion "to encourage consumer confidence, enhance business investment, as well as to take care of displaced workers." (Full story)
Hearings Wednesday on Capitol Hill focused on bioterrorism, targeting what needs to be done on the government level to prevent and prepare for such attacks. Before a skeptical Senate panel, Health and Human Services Secretary Tommy Thompson defended U.S. readiness to battle bioterrorism, though he admitted there are gaps in the system. (Full story)
Forty-one workers from the bond trading firm Cantor Fitzgerald became the first people missing after the World Trade Center attacks to be declared dead by a court. The process of getting death certificates, necessary for insurance benefits and to access bank accounts, normally takes up to three years if there is no body, but officials have streamlined the process to help the families. (Full story)
Although dropping off sharply immediately following the September 11 terrorist attacks on New York and Washington, travel-related activities of all types have been on the rise ever since, according to an American Automobile Association travel survey released Wednesday. (Full story)
Ronald Reagan Washington National Airport will reopen Thursday with a variety of new security restrictions, including air marshals on every flight, double screenings of passengers, and varied flight routes. Reagan National has been closed since the terrorist attacks and is the only passenger airport in the United States still closed. (Full story)
Will Americans resume air travel at their previous levels? Click for more
What will happen to the World Trade Center site? Click for more
What are the legal issues involved in compensating the victims?
What will be the long-range impact on the insurance industry?
How has the fabric of New York, Washington and the country as a whole been altered?
What measures will be taken to try to prevent a recurrence of such attacks? Click for more
How will these measures affect the American way of life?
What effect will the attacks have on the economy?
What will be the global effect?
George W. Bush: U.S. president
Laura Bush: First lady of the United States, she has become more visible since the terrorist attacks, making public appearances urging parents and teachers to help reassure children that everything is being done to try to keep them safe. Click for more
Tom Ridge: President Bush's appointee as head of the newly created Cabinet post of Office of Homeland Security, Ridge has been governor of Pennsylvania since 1995. Click for more
Joe Albaugh:The chief of the Federal Emergency Management Agency Click here for more.
Rudy Giuliani: Mayor of New York Click for more
Paul O'Neill: Treasury secretary
Norman Y. Mineta:Transportation secretary
Jane Garvey: FAA administrator
The latest figures provided by federal and local officials give the following totals for the number of people dead or missing from the September 11 attacks.
WORLD TRADE CENTER: 157 dead on two hijacked planes; another 5,219 reported missing to the New York Police Department; 363 confirmed dead
PENTAGON: 64 dead on hijacked plane; another 125 dead or missing
PENNSYLVANIA: 44 confirmed dead on hijacked plane
The events of September 11 exposed the vulnerability of the world's greatest superpower, presenting the United States with the challenge of recovering emotionally and physically.
Several industries -- particularly the airline industry and the insurance industry -- have been hit hard by the aftermath of the terrorist attacks, and their progress will be watched closely as a guide to the overall U.S. economic and psychological recovery.
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