Stocks closed higher for the third day in a row after a late afternoon surge. Gold plunged $104 to $1757 an ounce and government bond yields rose as investors became less fearful. A rise in orders for cars, aircraft and other long-lasting goods in July eased fears that the U.S. was headed for another recession.
The Dow Jones industrial average rose 143.95 points, or 1.3 percent, to 11,320.71.
The S&P 500 index rose 15.25, or 1.3 percent, to 1,177.60.
The Nasdaq rose 21.63, or 0.9 percent, to 2,467.69.
For the week:
The Dow is up 503.06, or 4.7 percent
The S&P 500 is up 54.07, or 4.8 percent
The Nasdaq is up 125.85, or 5.4 percent
For the year to date:
The Dow is down 256.80, or 2.2 percent.
The S&P 500 is down 80.04, or 6.4 percent.
The Nasdaq is down 185.18, or 7.0 percent.