NEW YORK (AP) — U.S. stocks are closing sharply higher, giving the stock market its best day in close to four years.
Stocks are rebounding from a six-day slump that was prompted by concerns about the health of the Chinese economy.
The Dow Jones industrial average climbed 619 points, or 4 percent on Wednesday.
The Standard & Poor’s 500 index jumped 72 points, or 3.9 percent, to 1,940. That’s the biggest gain for the index since November, 2011.
The Nasdaq composite surged 191 points, or 4.2 percent, to 4,697.
Treasury notes fell, pushing up the yield on the benchmark 10-year note to 2.18 percent from 2.07 percent on Tuesday.
Cameron International, a maker of equipment for the oil industry, jumped 41 percent after Schlumberger said it was buying the company in a cash-and-stock deal.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Seems Wall Street made their point…
See Fed, we can burn it down if we want, keep giving us cheap credit…
Mmmm, cheap credit…
I guess The Donald was right. We will all go broke tomorrow at 1:30 in the afternoon
Yay!!! That’s great news for the wealthy!!! Phew…I was beginning to worry for them…
Gee, thanks Obama.
so Fox News can go back to ignoring the stock market, right?