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Stocks open higher on rate cuts, credit thaw


    NEW YORK (Reuters) - Stocks rose on Thursday after several central banks followed the U.S. Federal Reserve in cutting interest rates, buoying hopes the actions will lessen the impact of a global recession.

    The Dow Jones industrial average was up 198.73 points, or 2.21 percent, at 9,189.69. The Standard & Poor's 500 Index was up 21.90 points, or 2.35 percent, at 951.99. The Nasdaq Composite Index was up 41.30 points, or 2.49 percent, at 1,698.51.

    (Reporting by Kristina Cooke; Editing by Kenneth Barry)