In addition to an oversold bounce, some analysts also attributed the gains to comments from the Fed’s William Dudley that a September rate hike looks “less compelling” and a strong durable-goods report.
The major averages closed about 4 percent higher for their best day since 2011, with the S&P 500 rising out of correction territory. The index fell into correction during Monday’s selloff.
Among the 10 S&P 500 sectors, tech, financials, health care, consumer discretionary and staples are all out of correction territory. The companies in the index gained about $640 billion in market capitalization on Wednesday, but have still lost $268 billion in capitalization this week and are down $1.3 trillion over the last week-and-a-half.
http://www.infowars.com/stocks-leap-about-4-in-recovery-best-day-since-2011/
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