What a difference a day makes: Although stocks have yet to regain all their lost ground after yesterday’s worst trading dayof the year, equities were broadly higher this afternoon.
The Dow Jones Industrial Averagesaw a triple-digit gain, rising 0.8%, while theS&P 500moved up 0.9% and the Nasdaqrose 1%.
Alcoa (AA) was the best performer in the Dow, gaining 8% on its earnings report. Chevron (CVX) was trading up following its guidance, but was recently down 0.4%, the worst of the handful of Dow components in the red; still energy stocks were largely notching gains. Investors also shrugged off�any broader implications of a�negative warningfrom Nokia (NOK)–the stock was down 15% to�a new 52-week low, but didn’t deter tech’s rally.
Financials also gained: Bank of America (BAC), the Dow’s biggest laggard yesterday, surged ahead 3.5% on an upgrade from Guggenheim Securities.
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