Dow Jones Industrial Average Climbs 132 Points: Financials Perform Well
The Dow Jones Industrial Average jumped 132.67 points, or 1.24 percent, to 10,944.41, as of 1:42 p.m. EDT today, leading a Wall Street comeback.
The markets rallied more than 2 percent, as traders capitalized on beaten down stock prices.
They were also anticipating the Federal Reserve's monetary policy statement later today, Fox News reports.
The S&P 500 climbed 20.87 points, or 1.86%, to 1,140.33. The Nasdaq Composite jumped 61.35 points, or 2.6%, to 2,418.97.
The FOX 50 had a jump of 13.16 points, or 1.62%, to 827.34.
The financial sector, which took the biggest battering in the prior session, was among the biggest gainers on Tuesday.
Most notably, large banks like Bank of America, which had a gain of 6.44 percent, Citigroup, climbed 29.85 points, or an increase of 6.80 percent.
Similarly, JPMorgan Chase experienced a respectable jump of 2.85 percent, reports Fox News.
The energy, materials and industrial sectors all posted better than 2 percent gains in morning trading as well.
Big-name technology companies performed well, with Apple at 365.99 points after a 3.62 percent increase and Google’s 2.74 percent gain giving it 561.00 points.
Ebay was at 28.89 points following an increase of 7.20 percent, sending the technology-heavy Nasdaq edging close to 3 percent.