Dow Sees 2nd-Biggest Gain of the Year

Ends the day up 390
By Newser Editors and Wire Services
Posted Sep 8, 2015 3:18 PM CDT
Specialist Thomas McArdle, left, and trader Kevin Lodewick work on the floor of the New York Stock Exchange, Wednesday, Sept. 2, 2015.   (AP Photo/Richard Drew)

(Newser) – Stocks are closing sharply higher, bouncing back from a drop last week, as the market's recent bout of volatility continues. The Dow Jones industrial average jumped 390 points, or 2.4%, to 16,492 today. That's the Dow's second-biggest gain this year following an even bigger surge two weeks ago. The Standard & Poor's 500 index climbed 48 points, or 2.5%, to 1,969. The Nasdaq composite rose 128 points, or 2.7%, to 4,811. Markets also rose in China and Europe.

Several companies were making big moves following deal news. Meredith jumped 9% after agreeing to be acquired by fellow Media General, and Teco Energy soared 25% after agreeing to be bought by Emera. Bond prices fell. The yield on the 10-year Treasury note rose to 2.19%. (Read more Dow Jones stories.)

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