Reuters - Wall Street greeted the U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac on Monday, hoping it would provide at least temporary respite from the troubles plaguing housing and credit markets.

Reuters - The Dow and S&P 500 rose on Monday as investors bet Washington's bailout of U.S. home finance companies Fannie Mae and Freddie Mac will stabilize the housing market and ease the credit crisis.

AP - Stocks mostly advanced Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government's move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained more than 150 points but the Nasdaq composite index declined as technology stocks lagged.

Reuters - Financial stocks may rise on Monday after the U.S. government took over troubled mortgage companies Fannie Mae and Freddie Mac , but this may be only a temporary reprieve given the long list of woes banks are currently battling.

AP - President Bush said Sunday that the historic federal government takeover of mortgage giants Fannie Mae and Freddie Mac is needed to keep them from failing, a risk he called "unacceptable" for an economy battered by housing and credit crises.

Reuters - Standard & Poor's and Fitch Ratings on Sunday cut the ratings on preferred stock of troubled housing finance companies Fannie Mae and Freddie Mac to junk status after dividends were eliminated in a takeover by the U.S. government.

Reuters - Stock index futures surged on Sunday, pointing to a sharply higher open when Wall Street opens on Monday, after the U.S. government seized control of troubled mortgage finance companies Fannie Mae and Freddie Mac .

Reuters - Bears have reigned supreme on Wall Street so far in September thanks to growing concern about economies worldwide, but their grip on stocks faces a big challenge after the U.S. government's weekend seizure of control of mortgage finance giants Fannie Mae and Freddie Mac.

Reuters - Oil jumped than $2 to near $109 a barrel on Monday, rebounding from a five-month low on worries that Hurricane Ike would tear through the Gulf of Mexico, and on hopes that a U.S. bailout of its top mortgage lenders would help temper an economic downturn.

Reuters - Washington Mutual Inc , the largest U.S. savings and loan, is replacing Chief Executive Kerry Killinger, making him the latest high-profile casualty of the credit crisis, the Wall Street Journal reported on its website on Sunday.

AFP - The US government has taken over ailing mortgage giants Fannie Mae and Freddie Mac, placing them in a "conservatorship" in a bid to avert a financial system meltdown from the housing crisis.

AP - Wall Street finally got what it's been angling for: a bailout of Fannie Mae and Freddie Mac that could aid a recovery of the broken U.S. housing market and arrest a slide in stock and credit markets worldwide.

Reuters - Shares in Asian banks soared on Monday after the U.S. government took over Fannie Mae and Freddie Mac , reassuring investors worried about exposure to the mortgage giants' bonds and the value of other risky debt assets.