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07-19-2011, 06:43 PM #1
DOW takes largest one-day jump this year
DOW takes largest one-day jump this year
By Matthew Craft, Associated Press
Updated 1h 14m agoComments46
NEW YORK — Strong profits and a bipartisan plan to lift the U.S. debt limit are driving a stock market rebound.
The Dow Jones industrial average gained 202 points Tuesday, its largest one-day jump this year.
Stock indexes rose after Coca-Cola, IBM and other companies reported better second-quarter earnings. Stocks added to their gains after President Barack Obama praised a proposal by six senators that would raise the country's debt ceiling.
The Dow gained 1.6% to close at 12,587.
VIDEO: Capitol, White House tourists on debt ceiling debate
STORY: Goldman, Wells Fargo earn profits; Bank of America stumbles
STORY: Apple results strong on record iPhone, iPad sales
The S&P 500 rose 21 points or 1.6 percent, to 1,327. That's the broader index's best day since March 3. The Nasdaq gained 61 points, or 2.2 percent, to 2,827.
Four stocks rose for every one that fell on the New York Stock Exchange. Trading volume was below average at 3.9 billion shares.
http://www.usatoday.com/money/markets/2 ... sday_n.htmNO AMNESTY
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