Money Matters - Simplified

U S Markets

U.S. markets surge Tuesday

New York -- U.S. markets took a break from a string of declines Tuesday, surging forward with broad support from banking, insurance and industrial sectors.

General Electric was up 19 percent, Wells Fargo & Co. gained 16.75 percent and Bank of America rose 25.87 percent. Citigroup gained 37.14 percent, the highest among the most active stocks.

The Dow Jones industrial average cruised to the close, gaining 379.44, or 5.8 percent, to 6,926.49. The Standard & Poor's 500 rose 43.07, or 6.37 percent, to 719.60. The Nasdaq composite index gained 89.64, or 7.07 percent, to 1,358.28.

On the New York Stock Exchange, 2,918 stocks advanced and 221 declined on a volume of 7 billion shared traded.

The benchmark 10-year U.S. Treasury bond fell 1 6/32 to yield 3.004 percent.