Stocks Make a U-turn, Rising After Big Decline

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks are ending the day higher, a turnaround from big losses the day before.

The Dow Jones industrial average climbed nearly 90 points to 12,805, erasing more than 40 percent of the previous day's plunge of 214 points.

The Standard & Poor's 500 is up 10 points to 1,369. The Nasdaq composite index is up 25 points to 3,016.

Investors were relieved that borrowing costs for Spain fell, a sign of confidence in that country's financial health. A surprisingly strong earnings report from aluminum producer Alcoa also pushed the market upward.

The number of advancing stocks versus declining ones was roughly four to one on the New York Stock Exchange. Volume was average at 3.7 billion shares.


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