Economics
U.S. Stocks Rally as Hardest-Hit Shares in 2016 Continue Rebound
- Equities post their first three-day advance this year
- Banks, retailers further recover from steep losses this year
Have Markets Returned to the Old Normal?
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U.S. stocks rallied, with the Dow Jones Industrial Average rising more than 250 points, as the year’s most-battered shares continued to recover and energy shares climbed with oil prices.
Chevron Corp. gained 4.1 percent to a one-month high. Priceline Group Inc. surged 11 percent to help lift an index of retailers after the online travel agent’s results beat estimates. Freeport-McMoRan Inc. rallied 12 percent after filings showed Carl Icahn boosted his stake in the copper producer. Citigroup Inc. and Bank of America Corp. increased more than 2.2 percent as lenders posted their best three-day rally in more than five years.