Signs of growth in the U.S. economy combined with an unexpected interest rate cut in Europe to send the Dow Jones industrial average up more than 100 points for the second day in a row.
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.
A wave of selling swept Wall Street and stock markets around the world Tuesday after the prime minister of Greece said he would let its people vote on an unpopular European plan to rescue the Greek economy.
Stocks are wavering in early trading as traders weigh slightly better than expected reports on jobs and housing with the possibility that Greece could default on its debt.