After showing a lack of direction earlier in the session, stocks showed a substantial move to the upside in afternoon trading on Thursday. The major averages all moved sharply higher, rebounding from yesterday's weakness.
The major averages pulled back off their highs going into the end of the day but still posted strong gains. The Nasdaq surged 640.16 points or 2.5 percent to 25,809.66, the Dow shot up 929.97 points or 1.9 percent to 50,848.75 and the S&P 500 jumped 127.31 points or 1.8 percent to 7,394.30.
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