USA: Stocks surge on Wall Street; UK tax retreat welcomed
NEW YORK (AP) — Stocks surged in afternoon trading on Wall Street Monday and marked the latest about-face for a market that has been unsteadily lurching between gains and losses.
The S&P 500 rose 2.7% as of 12:06 p.m. Eastern. Nearly every stock in the benchmark index gained ground. The Dow Jones Industrial Average rose 545 points, or 1.8%, to 30,180 and the Nasdaq rose 3.5%.
Technology and communications companies has some of the biggest gains. Google’s parent company rose 3.8%.