NEW YORK — Wall Street is soaring, propelling the Dow Jones industrials up more than 400 points, as investors get the good news they want on the economy's biggest problems: banks and housing.

Investors have reignited a two-week rally, cheering the government's plan to help banks remove bad assets from their books. They're also pleased with a report showing a surprising increase in existing home sales last month.

The Dow is up 5.5 percent, and the broader stock indexes are also sharply higher.

The Treasury Department's bad asset cleanup program would tap money from the government's $700 billion financial rescue fund and also involve help from the Federal Reserve, the Federal Deposit Insurance Corp. and the participation of private investors. The housing report, meanwhile, is overwhelmingly positive because it's a sign that the glut in homes for sale may be easing.