Stocks rise following Wednesday's rout

NEW YORK -- Stocks rebounded Thursday from 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.

In morning trading, the Dow Jones industrial average rose more than 100 points.

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.

President Bush said Thursday that he shares Americans' concerns and the government will act aggressively to avert a deepening crisis.

"The American people can be sure we will continue to act to strengthen and stabilize our financial markets and improve investor confidence," Bush said in two minutes of remarks delivered outside the Oval Office.

He did not specify what actions would be taken. The president was to meet with economic advisers over much of the day, and was seeing Treasury Secretary Henry Paulson at the White House later Thursday.

"Our financial markets continue to deal with serious challenges," he said. "As our recent actions demonstrate, my administration is focused on meeting these challenges."

Monday's 504-point loss in the Dow was its biggest drop since the drop following the September 2001 terror attacks. The blue-chip index is now about 24% below its Oct. 9, 2007, record close of 14,164.53.