Dow Surges, Ends Day Up 619

Market has its best day in almost 4 years
By Newser Editors and Wire Services
Posted Aug 26, 2015 3:19 PM CDT
A trader checks screens in a booth on the floor of the New York Stock Exchange, Wednesday, Aug. 26, 2015. U.S. stocks are opening sharply higher Wednesday after slumping for six straight days amid concern...   (Richard Drew)
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(Newser) – US 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%, today. The Standard & Poor's 500 index jumped 72 points, or 3.9%, to 1,940. That's the biggest gain for the index since November, 2011. The Nasdaq composite surged 191 points, or 4.2%, to 4,697.

Treasury notes fell, pushing up the yield on the benchmark 10-year note to 2.18% from 2.07% yesterday. Cameron International, a maker of equipment for the oil industry, jumped 41% after Schlumberger said it was buying the company in a cash-and-stock deal. (Read more stock market stories.)

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