Updated from 4:11 p.m. EST
Stocks in the U.S. surged Wednesday and extended the previous session's rally as comments from a high-ranking Federal Reserve official suggested further rate cuts could be on the table.
The Dow Jones Industrial Average soared 331.01 points, or 2.55%, to 13,289.45. It was the fifth consecutive triple-digit move -- three up and two down -- on the Dow in as many sessions. Over the last two sessions, the Dow has jumped 563 points, but it still remains 4.6% lower for the month.
"These moves are just unbelievable," said Paul Mendelsohn, chief investment strategist with Windham Financial. "The volatility creates a hard market to deal with. It varies between which areas stand to benefit the most, but that flexibility may be the reason we could see a rally extend through the rest of the year." ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.12 |
Oil *
77.12
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DOWN
154.48
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DOWN
19.14
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DOWN
37.61
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DOWN
0.67
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10 Yr
3.21%
SPDR Gold
115.06
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-1.48%
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-1.72%
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-1.73%
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-2.04%
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