Spanish bond yields stabilized Wednesday after a European Central Bank official hinted at intervention if the situation in the country deteriorated. The markets were on high alert Tuesday, as yields spiked after Spain warned its banks may need more capital if the economy there weakens further. The Dow Jones Industrial Average rose 89 points, or 0.7%, to close at 12,805. The index's session high was 12,844. Alcoa, Bank of America ( BAC), JPMorgan Chase ( JPM), Cisco ( CSCO) and Verizon ( VZ) were the biggest percentage gainers among the blue chips. The S&P 500 advanced 10 points, or 0.7%, to finish at 1369. The Nasdaq jumped 25 points, or 0.8%, to settle at 3016.
NEW YORK ( TheStreet) - U.S. stocks snapped a five-day losing streak on Wednesday with buyers out in force as anxiety over the eurozone eased and Alcoa's ( AA) profit surprise lifted hopes for a better than expected first-quarter reporting season.
2012 Stock Predictions and Outlook
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