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Wall Street roars late to sustain the Rally By Reuters




© Reuters. Traders work on the New York Stock Exchange (NYSE) floor in New York

By Lewis Krauskopf

(Reuters) – US stocks plunged into positive territory on Thursday, after stocks plummeted a second day.

The gains come one day after the major indexes have seen the largest percentage increase in nearly a decade a day, giving some hope that a Sogon on Wall Street may come to an end. The S & P 500's two-day percentage increase of 5.9 percent is the best performer for the benchmark index since the end of August 201

5, when the market was in the midst of a downturn against a weakening China.

Nevertheless, all three major indices are down more than 9 percent in December. The S & P 500 is on track to reach the largest annual percentage decline since 2008.

Stock prices were lower during most Thursday sessions, and the S & P 500 fell 2.8 percent. After a sharp rise on Wednesday, when the Dow Jones Industrial Average rose for the first time by 1,000 points, the strategists felt that such a pullback could be expected.

Thursday's losses returned higher in the last trading hour. All eleven sectors were in positive territory.

"I just think the sale is going to be exhausted in the near future. At the end of the day, when yesterday's rally traced back only a fraction this morning, "said Rick Meckler, Partner at Cherry Lane Investments of New Vernon, New Jersey. "The general feeling is that a short-term low has been set."

The Dow Jones Industrial Average () rose 260.37 points or 1.14 percent to 23,138.82, the S & P 500 () hit 21.13 points or 0.86 percent to 2,488.83 and the Nasdaq Composite () added 6,579.49 by 25.14 points, or 0.38 percent.

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