US stocks surge, getting a boost from China's rally
NEW YORK - Stocks are closing sharply higher, bouncing back from a drop last week, as the market's recent bout of volatility continues.
The Dow Jones industrial average jumped 390 points, or 2.4 percent, to 16,492 Tuesday. That's the Dow's second-biggest gain this year following an even bigger surge two weeks ago.
The Standard & Poor's 500 index climbed 48 points, or 2.5 percent, to 1,969. The Nasdaq composite rose 128 points, or 2.7 percent, to 4,811.
Markets also rose in China and Europe.
Several companies were making big moves following deal news.
Meredith jumped 9 percent after agreeing to be acquired by fellow Media General, and Teco Energy soared 25 percent after agreeing to be bought by Emera.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.19 percent.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Pelicans visiting Baton Rouge facing potentially deadly problem
Displaced tenants upset with landlord after apartment fire
After WBRZ report Friday, state official calls for audit over felon voting
Southern University to start classes late, Lab School closes due to power...
BRFD: Power lines to blame for destructive house fire Monday