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Stocks surged for the second time in three days today as investors pounced on evidence that the economy might not be as weak as feared.
Strong earnings and an upbeat forecast from Intel Corp. and a more favorable take on the economy from the Federal Reserve pulled investors into stocks.
Stocks also rallied on Monday after an influential banking analyst raised her target on Goldman Sachs Group Inc.
The Dow Jones industrial average rose 257 points, or 3 percent, to close at 8,616.21. The Standard & Poor’s 500 index rose 27 points, or 3 percent, to 932.68. The NASDAQ composite index jumped 63 points, or 3.5 percent, to 1,863.90.
Nine stocks rose for every one that fell on the New York Stock Exchange. Volume came to 1.3 billion shares.
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