New York, NY (AP) - Stock indexes are closing with broad gains as
international leaders scramble to save a week-old plan to prevent a
financial crisis in Europe. Strong corporate earnings and a bump up
in hiring by private companies also helped send markets higher
after a steep two-day drop.
The Federal Reserve said Wednesday that the economy would likely
expand over the next two years. But Fed Chairman Ben Bernanke
cautioned the pace would likely be "frustratingly slow."
The Dow Jones industrial average gained 178 points, or 1.5
percent, to 11,836. The S&P 500 rose 20, or 1.6 percent, to 1,238.
The Nasdaq composite added 33, or 1.3 percent, to 2,640.
Five stocks rose for every one that fell on the New York Stock
Exchange. Volume was slightly below average at 4 billion shares.
(Copyright 2011 by The Associated Press. All Rights Reserved.)