Stocks rose sharply for a second consecutive session on Wall Street yesterday as US investors bought beaten-down shares of companies that have faltered during the latest debate over interest rates.
But as the Federal Reserve met in Washington, many investors remained concerned that a rate increase this week will be the first of several this year, making it difficult for companies to sustain the strong profit growth that has helped the market rebound from crushing losses last week.
The Dow Jones industrial average rose 100.52, or 0.9 per cent, to close at 11,041.05, building on its 201-point gain on Monday. Broader stock indicators were also higher. The Standard and Poor's 500 rose 14.82 to 1,409.28, and the Nasdaq composite index rose 111.63 to 4,051.98.