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US market rallies on Obama public investment pledge

Staff Reporter 1 minute read

The United States will benefit from the biggest public-works spending package in half a century next year as the incoming administration pledges aggressive action to get the country back on track.

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President-elect Barack Obama said he will offer the American people a stimulus plan “equal to the task” , creating at least 2.5 million jobs, rebuilding infrastructure, improving schools and reducing the country’s reliance on oil.

American stocks rallied on the news, sending the Dow Jones to a one-month high of 8,934 with other markets around the world following suit.

“We need to act with the urgency this moment demands to save or create at least two and a half million jobs so that the nearly two million Americans who’ve lost them know that they have a future. And that’s exactly what I intend to do as President of the United States,” Mr Obama said.


US market rallies on Obama public investment pledge
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