A deal that would prevent more mortgage foreclosures has pulled Wall Street out of a deep early slump and given the market a most higher close. Democratic lawmakers reached an agreement with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures. Other lenders are expected to follow suit.
Wall Street had traded lower for much of the session after a profit warning from Wal-Mart Stores Inc. intensified fears that consumers are even worse off than thought. Their reluctance to spend _ evident in Thursday's retail sales reports from many of the nation's biggest merchants _ could make it harder for the nation to recover from the recession.
Although the Dow Jones industrial average is down 27 at 8,742 level, broader indicators are higher and there are more advancing than declining issues on the New York Stock Exchange.
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