Liveblogging The Obama Event

Stocks remain higher as President-elect Obama is about to begin his press conference on the economy. It will be Obama's first public appearance since his triumph in Tuesday's election. The averages have been higher all day and investors are hoping to hear what ideas and plans the President-elect has to help the economy. He has already said he will form a task force to study the reasons as to what caused the financial crisis but investors are hoping his team of advisors can lead the country back to prosperity beginning in January

Obama's economic advisory board made up of 17 people. The members include the likes of Warren Buffett, Larry Summers, Robin Rubin and Google chairman Eric Schmidt. Obama will meet with them before his press conference.

2:34 pm: DJIA: 8889.

2:44 pm: DJIA: 8929. The Dow loves a tardy Obama.

2:54 p.m.
Obama: must act 'swiftly' to resolve economic crisis

2:55 p.m.
Obama says U.S. needs middle class rescue plan

2:55 p.m.
Obama says fiscal stimulus plan needed

2:58 p.m.
Obama says he'll review Bush's program to stabilize markets




3:00 p.m.
Obama says focus needed on job creation

3:04 p.m.
Obama pledges quick action on economy as president

Barack Obama pledged to act quickly on the economy once he is president, telling reporters following a meeting with his economic advisory team on Friday that he will take steps to ease the credit crisis, help families and restore growth. He said the middle class needs a relief plan and that a fiscal stimulus plan is "long overdue." He also said his team will "review" the Bush administration's plan to stabilize financial markets.

Obama: Economic challenge of life time.

The stock market gives up half of its gains as Obama makes his statements.

http://change.gov/

Asked by the Tribune's John McCormick about what he hoped to see in a successor for his Senate post, Obama stressed that the choice was entirely up to Gov. Rod Blagojevich. But Obama said his personal criteria would not be different than any voter's. He said he wants to see someone who is both capable and passionate about helping the middle class.