Traders work on the floor of the Istanbul Stock Exchange in Istanbul, Turkey, 03 Oct 2008

U.S. stock markets are making strong gains in Friday's trading, with key stock indexes up as much as three percent.

Traders are watching as the U.S. House of Representatives considers a massive government-sponsored bailout plan for the financial sector.  

European markets also posted strong gains.

It was a different story in Asia, where Japan's benchmark Nikkei index fell two percent, and Hong Kong's Hang Seng index was down nearly three percent.  

Some information for this report was provided by AFP, AP and Reuters.