The New York Times sent the following news alert at 4:20 p.m. EDT:
Stocks on Wall Street surged higher Thursday, buoyed by bargain-hunting investors, positive economic data and some easing of concerns over Europe’s finances.
As trading ended, the Dow Jones industrial average was up about 420 points, or 3.9 percent. The Standard & Poor’s 500-stock index and the Nasdaq composite were both up about 4.6 percent.
Every day this week, stocks have ricocheted between steep gains and losses to an extent not seen since March 2009. With stocks soaring on Thursday, bond yields rose again, gold declined, and oil futures were back above $85 a barrel.