Calm returned to the stock market Wednesday, a day after its biggest dive this year. Stocks closed solidly higher as reassuring reports on productivity and hiring overshadowed jitters about the Greek debt crisis.
Stock indexes opened modestly higher, then surged to solid gains at mid-morning after the government said oil refineries are operating at a faster clip than economists had expected. Oil refiners Valero Energy Corp. and Tesoro Inc. were among the biggest gainers in the Standard & Poor's 500 index.
The Dow Jones industrial average closed up 78.18 points, or 0.6 percent, at 12,837.33.
The Standard & Poor's 500 index gained 9.27, or 0.7 percent, to close at 1,352.63.
The Nasdaq composite index added 25.37, or 0.9 percent, to close at 2,935.69.
For the week so far:
The Dow is down 140.24, or 1.1 percent.
The S&P 500 is down 17, or 1.2 percent.
The Nasdaq is down 40.50, or 1.4 percent.
For the year so far:
The Dow is up 619.77, or 5.1 percent.
The S&P 500 is up 95.03, or 7.6 percent.
The Nasdaq is up 330.54, or 12.7 percent.