Summary Box: Stocks rise after Tuesday's plunge

AP News
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Posted: Mar 07, 2012 4:51 PM
Summary Box: Stocks rise after Tuesday's plunge

BOUNCING BACK: Stocks closed higher on Wednesday, a day after the Dow Jones industrial average had its worst loss of the year. The Dow closed up 78 points at 12,837, erasing a big chunk of Tuesday's 203-point loss.

OIL SLICK: Oil refiners pushed the market higher at mid-morning, after the government said that refineries are operating faster than expected for this time of year. Valero Energy Corp. and Tesoro Corp. were among the biggest gainers in the Standard & Poor's 500 index.

BIG MO: Many market-watchers believed that stocks were due for a correction heading into Tuesday's trading. Some said Wednesday's gains signaled that the market still has solid upward momentum.