US indexes rise sharply for a second day, making up losses from the first few days of the year

NEW YORK, N.Y. – The stock market is bouncing back from a tough start to the year.

Investors sent shares sharply higher for a second straight day Thursday, erasing losses from the first few days of 2015.

The gains were driven by a combination of positive economic news from the U.S. and hopes for economic stimulus in Europe. The price of oil has also been stabilizing after six months of heavy losses.

The Dow Jones industrial average jumped 323 points, or 1.8 per cent, to 17,907.

The Standard & Poor’s 500 increased 36 points, also 1.8 per cent, to 2,062. The Nasdaq rose 85 points, or 1.8 per cent, to 4,736.

Beverage maker Constellation Brands climbed 5 per cent after raising its profit outlook.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.01 per cent.