published on October 16, 2018 - 1:33 PM
Written by Associated Press

Stocks are surging on Wall Street, clawing back some of the ground lost last week, after several big U.S. companies reported standout results.

Major U.S. indexes climbed more than 2 percent Tuesday, giving them their biggest one-day gains since March. They’re still down for the month following a rout last week.

Investment banks Morgan Stanley and Goldman Sachs rose sharply after turning in strong earnings reports.

Johnson & Johnson and UnitedHealth, the nation’s biggest health insurer, also jumped after releasing their results.

Technology stocks gained back some of the ground they lost last week.

The S&P 500 index rose 59 points, or 2.1 percent, to 2,809.

The Dow Jones Industrial Average climbed 547 points, or 2.2 percent, to 25,798. The Nasdaq composite added 214 points, or 2.9 percent, to 7,645.

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