NEW YORK (AP) — Stocks surged on Wall Street Wednesday, with the Dow Jones Industrial Average vaulting more than 1,000 points, its biggest one-day point-gain ever.
Investors recouped all their losses from Wall Street’s Christmas Eve plunge as stocks rallied across all sectors, giving markets their best single-day percentage gain in 10 years.
The Dow Jones gained 5 percent or 1,086 points to 22,878. The benchmark S&P 500 gained 5 percent or 116 points to 2,467. Nasdaq rose 5.8 percent or 361 points to 6,554.
Energy stocks gained the most as oil prices notched their biggest gain in more than two years.
Economists called the big market moves a “reflex rally” after Monday’s drop, which left Wall Street on track for its worst December since the Great Depression.
For the week:
The S&P 500 is up 51.08 points, or 2.1 percent.
The Dow is up 433.08 points, or 1.9 percent.
The Nasdaq is up 221.36 points, or 3.5 percent.
The Russell 2000 is up 37.72 points, or 2.9 percent.
For the year:
The S&P 500 is down 205.91 points, or 7.7 percent.
The Dow is down 1,840.77 points, or 7.5 percent.
The Nasdaq is down 349.04 points, or 5.1 percent.
The Russell 2000 is down 205.70 points, or 13.4 percent.