Stock Rally Pushes Dow Back Above 8,000

U.S. stocks were staging a powerful rally Thursday afternoon, with the Dow industrial moving back above the 8,000 level. Investors were encouraged by news that the U.S. accounting standards body eased mark-to-market rules on financial institutions' soured assets. Also, automakers saw glimmers of hope in the March sales figures released Wednesday. There were also signs of agreement on economic stimulus and financial regulation among leaders of the industrialized world at the G20 meeting in London