Stocks suddenly surged Wednesday after suffering deep losses heading into the holiday season; soaring 750 points in afternoon trading that hoped to erase the damage caused during the “worst Christmas eve” in US history.
“Stocks rose sharply in volatile trading on Wednesday as surges in retail and energy shares helped Wall Street regain the steep losses suffered in the previous session,” writes CNBC.
“The Dow Jones Industrial Average traded 700 points higher as of 3:16 p.m. ET, while the S&P 500 gained 3.25 percent. The Nasdaq Composite outperformed, rising 4.2 percent. Both the S&P 500 and Nasdaq were on track for their biggest one-day gains since Aug. 26, 2015,” adds the article.
The strong performance comes the same day as early reports show a healthy US holiday season, with retail and online sales up from the same period last year.
Read the full report at CNBC.