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Wall Street is moderately higher in early trading, with investors encouraged by a Federal Reserve plan to buy massive amounts of short-term debt from companies.

The plan unveiled Tuesday calls for the Fed to buy the short-term debt that companies use to finance their day-to-day operations. That would help create demand in the credit market and make it easier for companies to raise money.

Investors who are still clamoring for an interest rate cut were relieved by the government’s new measure to help the economy. The credit markets seized up after the failure of Lehman Brothers Holdings Inc. Banks have been reluctant to lend to most customers, including other banks, fearing they won’t be repaid.

The Dow Jones industrials rose 49 points to the 10,005 level.

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