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Stock market rebounds after a two-day slump

Stock indexes rose Wednesday after a steep two-day drop as international leaders scrambled to save a week-old plan to prevent a financial crisis in Europe. Strong corporate earnings and a bump up in hiring by private companies also helped turn markets around.

By MATTHEW CRAFT, AP Business Writer, DAVID K. RANDALL, AP Business Writer | Updated on November 02, 2011
Daniel Kryger, left, works with fellow traders on the floor of the New York Stock Exchange Wednesday, Nov. 2, 2011. Stocks rose sharply in early trading, a day after renewed worries over Europe's debt crisis roiled markets around the world. Strong corporate earnings and a better employment report helped turn markets around. (AP Photo/Richard Drew)

NEW YORK (AP) — Stock indexes rose Wednesday after a steep two-day drop as international leaders scrambled to save a week-old plan to prevent a financial crisis in Europe. Strong corporate earnings and a bump up in hiring by private companies also helped turn markets around.

The Dow Jones industrial average gained 115 points, or 1 percent, to 11,775 as of 1:45 p.m. Eastern. The Dow lost 573 points the previous two days after the brokerage MF Global collapsed and Greece’s prime minister surprised markets and his own government with a call to put unpopular austerity measures to a public vote.

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