Posted: Jun 6, 2012 11:15 AM
Source: Associated Press
NEW YORK- A 200-point charge turned the Dow Jones industrial average positive for the year following a dismal stretch in May.
The Dow is up 208 points at 12,337 shortly before noon.
All 30 Dow stocks were higher, led by Bank of America, up 7 percent. The last time the Dow closed up more than 200 points was March 13.
The big jump follows weeks of losses, including a 275-point plunge last Friday caused by a surprisingly weak report on the U.S. job market
The Standard & Poor's 500 rose 22 points to 1,308. The Nasdaq composite rose 56 points to 2,834.
The gains were broad. Just 14 of the S&P 500 companies were lower, and more than eight stocks rose for every one that fell on the New York Stock Exchange.