Stocks open higher after Wednesday's rout

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Stocks open higher after central banks plan to inject markets with $180B, but fear remains

Stocks jumped Thursday after the previous session's massive rout, but safe assets such as gold and Treasury bills still saw heavy demand as investors braced for more instability in the financial system.
Following the bailout of insurer American International Group Inc., the Federal Reserve and other major central banks around the world on Thursday joined forces to inject as much as $180 billion into global money markets in an attempt to keep the credit crisis from worsening. The Fed added another $55 billion in overnight loans Thursday.

But fears have not fully receded. Market participants are still trying to determine how to proceed in what is looking to be the most troubling period for the world's financial system in most investors' memory.

The big fear on Wall Street is that there are more significant financial companies to fall. Speculation is swirling about the futures of such major players as thrift bank Washington Mutual Inc. and investment bank Morgan Stanley. Media reports have been saying that Wells Fargo & Co. and Citigroup Inc. are interested in a possible takeover of Washington Mutual, and that Morgan Stanley and Wachovia Corp. are in talks about a possible combination.