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Stocks Surge to Biggest Gain Since March

Dow ends day up 547
By Newser Editors and Wire Services
Posted Oct 16, 2018 3:15 PM CDT
In this Oct. 11, 2018, file photo trader Thomas Ferrigno works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks are surging on Wall Street, clawing back some of the ground lost last week, after several big US companies reported standout results, the AP reports. Major US indexes climbed more than 2% Tuesday, giving them their biggest one-day gains since March. They're still down for the month following a rout last week. Investment banks Morgan Stanley and Goldman Sachs rose sharply after turning in strong earnings reports. Johnson & Johnson and UnitedHealth, the nation's biggest health insurer, also jumped after releasing their results. Technology stocks gained back some of the ground they lost last week. The S&P 500 index rose 59 points, or 2.1%, to 2,809. The Dow Jones Industrial Average climbed 547 points, or 2.2%, to 25,798. The Nasdaq composite added 214 points, or 2.9%, to 7,645. (Read more stock market stories.)

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