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Updated from 2:50 p.m. EDT
Stocks in New York were on the rise Tuesday afternoon on reports that woebegone insurer AIG (AIG Quote) may gain support from the Federal Reserve as it struggles to raise capital.
The Dow Jones Industrial Average was up 128 points at 11,045, and the S&P 500 was up 17 points to 1210. The Nasdaq was up 21 points to 2201.
The prospect of a loan package from the Fed for the ailing AIG, believed by some to be essential to the continued function of U.S. financial markets, helped buoy the indices. Citing a person familiar with the negotiations, Bloomberg reported that the central bank is looking to provide AIG with a loan package to support it as it faces a crippling liquidity crunch. ...
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