The Dow Jones industrials are back above 10,000 after investors had second thoughts about the heavy selling in the stock market during the last two weeks.
Stocks soared Wednesday and the Dow rose 275 points after a modest gain Tuesday. It was the market's first back-to-back advance since mid-June. But analysts warn that the gain doesn't signal investors are more optimistic. They say it looks like a case of investors scooping up stocks that had become cheaper after heavy losses.
Financial stocks rose on an upbeat profit forecast from State Street Corp.
The Dow is up 275 at 10,018. The Standard & Poor's 500 index is up 32 at 1,060, while the Nasdaq composite index is up 65 at 2,159.
Six stocks rose for every one that fell on the New York Stock Exchange. Volume totaled 1.3 billion shares, in line with Tuesday.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.