S&P 500 Erases Loss for Year as Stocks Rally for 2nd Day
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The Standard & Poor’s 500 Index rallied a second day, wiping out its losses for the year, on speculation central banks will support growth even as the American economy shows signs of strength.
The S&P 500 added 1.8 percent to 2,062.14 at 4 p.m. in New York, after rallying 1.2 percent yesterday to halt a five-day selloff. The Dow Jones Industrial Average jumped 323.35 points, or 1.8 percent, to 17,907.87, also erasing its loss for 2015. The Nasdaq 100 Index soared 1.9 percent and the Dow Jones Transportation Average climbed the most since October. More than 7.3 billion shares changed hands on U.S. exchanges, 4.8 percent above the three-month average.