* Washington sets rescue of Citigroup; stock jumps 60 pct * Obama to unveil his economic leadership team * Financial shares lead market's advance, indexes up 4 pct * For up-to-the-minute market news, please click on STXNEWS/US (Updates to midmorning) By Ellis Mnyandu NEW YORK, Nov 24 (Reuters) - U.S. stocks rose on Monday as investors breathed a sigh of relief after Washington agreed to pump $20 billion into Citigroup (C.N: Quote, Profile, Research, Stock Buzz), averting a bank collapse that could have imperiled the global financial system. Shares of Citigroup jumped more than 60 percent to $6.06 on the New York Stock Exchange as investors welcomed the rescue of the No. 2 U.S. bank, whose shares last week plunged to their lowest levels in about 15 years amid a crisis of confidence. Citi's rescue is the biggest U.S. bank bailout yet and underscores the widening fallout from the credit crisis that begun more than a year ago. The news lifted other financial shares. Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz) was up nearly 10 percent to $12.55, Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) , up 12 percent to $11.24 and Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz), rose nearly 5 percent to $55.72. The S&P 500 financial index climbed 4.6 percent. "The news on Citigroup is about confidence," said Cummins Catherwood, managing director at Boenning and Scattergood in West Conshohocken in Pennsylvania. "There's not a master stroke that's going to make everybody come out and be happy again. Confidence is a mosaic that has to be put up piece by piece and the Citi plan is just one piece." The Dow Jones industrial average .DJI shot up 327.67 points, or 4.07 percent, to 8,374.09. The Standard & Poor's 500 Index .SPX jumped 35.63 points, or 4.45 percent, to 835.66. The Nasdaq Composite Index .IXIC leaped 61.35 points, or 4.43 percent, to 1,445.70. Sentiment was also buoyed by expectations that President-elect Barack Obama's would lay out a plan for a two-year economic stimulus package involving the creation of 2.5 million jobs over two years. Emerging certainty about who will be in Obama's economic leadership team also added to the positive tone. In a bid to bring calm to the market, Obama is due to announce his economic leadership team at 12 noon (1700 GMT) on Monday. New York Federal Reserve Bank President Timothy Geithner is expected to be tapped as the new U.S. Treasury Secretary. Shares of Citigroup were among the Dow's top boosts, along with JPMorgan. A jump in energy shares underpinned gains in shares of energy companies, putting Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz), up 2.8 percent at $77.92, among the standouts. On Nasdaq, shares of big-cap technology companies led gains, with Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) , up more than 6 percent at $87.90. Campbell Soup Co (CPB.N: Quote, Profile, Research, Stock Buzz), considered a recession-proof play, however, stunned investors with a disappointing full-year profit outlook, sending its shares down more than 6 percent to $33.91 on the NYSE. [ID:nN24429393] Shares of Xerox Corp (XRX.N: Quote, Profile, Research, Stock Buzz) climbed more than 16 percent to $6.13 after the world's top supplier of digital printer and document management services forecast 2009 profits generally in line with analyst expectations. [ID:nN24504391] Citigroup's rescue follows the disappearance or bankruptcies of such Wall Street names as Bear Stearns Cos, Lehman Brothers Holdings Inc (LEHMQ.PK: Quote, Profile, Research, Stock Buzz) and Washington Mutual Inc (WAMUQ.PK: Quote, Profile, Research, Stock Buzz). In addition to the new capital, Washington effectively guaranteed most of Citi's $306 billion losses on high-risk assets. (Editing by Kenneth Barry)

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