Markets Are Up

Stock markets are rebounding slightly following Monday's market meltdown. However, many are still waiting for the markets to hit a more stable footing.

Listen to Ryan Bird's report

The TSX was ahead about 375 points in late morning trading on Tuesday. In New York, the Dow was ahead about 240 points.

U-S President Bush issued a warning to Congress on Tuesday, saying act now on a financial rescue plan or the American economy could face "painful and lasting" damage.

In brief remarks at the White House, Bush pledged that his administration will work with congressional leaders to get the defeated 700-billion-dollar relief package back on track, saying "this is not the end of the legislative process."

The U.S. House of Representatives will meet again on Thursday.

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