US stocks gain, recovering losses from first days of year

AP News
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Posted: Jan 08, 2015 11:57 AM
US stocks gain, recovering losses from first days of year

NEW YORK (AP) — U.S. stocks are sharply higher for a second day in a row, erasing their losses from the first few days of the year.

Investors were encouraged Thursday by signs of strength in the U.S. job market and more hopes of stimulus from Europe's central bank.

The price of oil was stabilizing after six months of heavy losses.

The Dow Jones industrial average jumped 287 points, or 1.6 percent, to 17,872 as of 11:45 a.m. Eastern.

The Standard & Poor's 500 increased 32 points, also 1.6 percent, to 2,058. The Nasdaq rose 80 points, or 1.7 percent, to 4,731.

Constellation Brands, which makes Corona and Negra Modelo beers, jumped 5 percent after raising its full-year profit outlook.

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