Updated from 7:03 a.m. EST

Stocks in New York opened with gains Monday, as the U.S. and China each unveiled new plans to prop up companies and economies wounded by the financial crisis.

The

Dow Jones Industrial Average

was up 207 points to 9151, and the

S&P 500

climbed 10 to 941. The

Nasdaq

was adding 30 points to 1677.

Financial firms were in focus as Monday's session got under way. Troubled insurer

American International Group

(AIG) - Get Report

received a revamped $150 billion bailout package from the U.S. government and reported a third-quarter loss of $24.47 billion, or $9.05 a share, compared with year-earlier net income of $3.09 billion, or $1.19 a share.

Asian markets

closed higher following China's announcement of a $586 billion stimulus package to bolster consumer and business confidence. European indices, including the FTSE in London and the DAX in Frankfurt, also were marking gains.

Back in the U.S.,

Citigroup

(C) - Get Report

is in talks to acquire a bank, according to a report in the

Wall Street Journal

. Earlier this year, Citi had been a suitor to

Wachovia

(WB) - Get Report

, only to have its offer trumped by

Wells Fargo

(WFC) - Get Report

.

Outside the financials, power company

NRG

(NRG) - Get Report

late Sunday rebuffed a $6.08 billion buyout offer from

Exelon

(EXC) - Get Report

.

Electronics retailer

Circuit City

(CC) - Get Report

filed for Chapter 11 bankruptcy protection Monday.

Shipping company

Deutsche Post

said it would cut 9,500 jobs and reduce U.S. operations of its DHL Express business.

On the

earnings

side, financial conglomerate

Berkshire Hathaway

(BRK.A) - Get Report

announced a 77% decline in third-quarter profit that owed in part to unrealized losses on derivatives and other securities.

Telecom firm

Nortel Networks

( NT) announced a third-quarter loss and said it would cut its head count by 1,300.

Meanwhile, mortgage company

Fannie Mae

( FNM) reported a $29 billion loss for the third quarter.

Meat products producer

Tyson Foods

(TSN) - Get Report

announced an increase in third-quarter earnings, and fast-food concern

McDonald's

(MCD) - Get Report

said global same-store sales increased 8.2% in October.

Looking at commodities, crude oil was climbing $3.69 to $64.73. Gold was up $25 to $759.20 an ounce.

Longer-dated U.S. Treasury securities were mixed. The 10-year note was losing 5/32 to yield 3.81%, and the 30-year was even in price to yield 4.27%. The dollar was losing ground vs. the euro and pound but gaining on the yen.