Stocks surge as investors anticipate yearend rally
NEW YORK (AP) -- Investors believing that Wall Street is on the verge of a yearend rally have piled into the market, brushing off more weak economic data and propelling the Dow Jones industrials up 300 points.
Some analysts said the market was up on relief that the presidential election was about to be over.
But others said investors were anticipating a yearend rally and buying to be sure they didn't miss out on its start.
Volume was light, which tends to skew price moves, but analysts nonetheless see more improvement in the market's tone after last month's devastating selling.
The Dow is up 305 points, up 3 percent, at the 9,625 level, its best close in four weeks.
The broader indexes were up more than 3 percent.
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