US stock indexes jump for a second day, erasing 2015 losses

AP News
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Posted: Jan 08, 2015 4:07 PM
US stock indexes jump for a second day, erasing 2015 losses

NEW YORK (AP) — The stock market is bouncing back from a tough start to the year.

Investors sent shares sharply higher for a second straight day Thursday, erasing losses from the first few days of 2015.

The gains were driven by a combination of positive economic news from the U.S. and hopes for economic stimulus in Europe. The price of oil has also been stabilizing after six months of heavy losses.

The Dow Jones industrial average jumped 323 points, or 1.8 percent, to 17,907.

The Standard & Poor's 500 increased 36 points, also 1.8 percent, to 2,062. The Nasdaq rose 85 points, or 1.8 percent, to 4,736.

Beverage maker Constellation Brands climbed 5 percent after raising its profit outlook.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.01 percent.