Housing relief on the way; stocks higher

July 23, 2008

President Bush dropped opposition to a key housing rescue plan, which included a provision for Fannie Mae and Freddie Mac. The Dow gained 29 points to 11,632. The S&P 500 rose 5 points to 1,282. The Nasdaq rallied 21 points to 2,325. Crude oil fell $3.98 to settle at $124.44 a barrel. Conway Gittens reports from New York.