Financials Erase Losses & Stocks Surge Towards End Of Trading

The Dow Jones Industrial Average jumped 165 points (1.5%) to close at 11,434, the S&P 500 Index rose 17 points (1.4%) to 1,249, and the Nasdaq Composite gained 30 points (1.3%) to 2,258. On moderate volume, 1.5 billion shares were traded on the NYSE, and 2.3 billion shares were traded on the Nasdaq. Crude oil fell $1.71 to $100.87 per barrel, wholesale gasoline was up $0.09 at $2.75 per gallon, and gold lost $16.90 to $745.60 per ounce.

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