Some highlights from the day's business news:
Stocks climb to 2-year highs
Financial shares Wednesday sparked a broad rally that sent all three major indexes to fresh multi-year highs.
The Dow Jones industrial average added 83 points, or 0.7% to close at 11,755.44 - its highest level since September 2008. JPMorgan Chase was the Dow's biggest gainer, jumping more than 2%, followed by Bank of America, American Express and Boeing.
Bank shares also got a lift Wednesday from Wells Fargo's upgraded outlook for the sector.
The S&P 500 rose 11 points, or 0.9%, closing at 1,285.96 - its highest level since August 2008. The Nasdaq gained 20 points, or 0.8%, ending the day at 2,737.33 - a three-year high.
Treasuries slide as eurozone debt jitters ease
Treasury prices fell Wednesday for the second day in a row as U.S. stocks rallied and investors' concerns over eurozone debt issues eased.
Prices had been rising on the back of weaker-than-expected jobs data, but after Japan said it would support European debt with a bond purchase early Tuesday, the bond market changed direction.
Investors tend to move into the perceived safe-haven of U.S. government debt in times of economic uncertainty, but as investor confidence grows, they move into higher-return assets, like stocks.
On Wednesday, the yield on the benchmark 10-year note ticked up to 3.37% from 3.34% on Tuesday. The yield on the 30-year bond rose to 4.53%, while the five-year note rose to 1.98% and the two-year note edged up very slightly to 0.61%. Prices and yields move in opposite directions.
CNNMoney.com reporters Laurie Segall and Catherine Clifford contributed to this report.
Yes we can! every little bit helps.
This is Sarah Palin's fault!
OK all you stataticians out there in blogger land, this rose to this and that soared to that, and this climbed to this and that rose slowly to that. Now just how many days do you "honestly think" this will last, in our "bankrupt" society. "Eurozone debt?" I am not an economist. What is that? Why do we have one? I'd bet it's because we're not, as a mature self-reliant country as we should be. Eurozone debt. Have mercy on our children. We did'nt have stinking debt problems like this in the 50's when unemployment was under 2%. Eurozone debt. Next thing will be Kepler B-10 debt. Thank God I'll be dead by then.
well hot diggity dayum they musta got some of the bailout [free] money that bush gave to the banks eh? cuz it sure didnt help anyone else out!
TO: The People of the United States: Where's Frank?
once again... A clear victory. Chairman cheny liberated the banks. He is always thinking of the worlds children as he is a true grandfather of liberty. There is only one chairman. No others come close to the vision and generosity. A new world he created, forged of decades of family experience. Today we are united once again as a true multi planet empire beneath a single flag of the chairman. No complaints.. Full speed ahead.
ewww u really spouttin all that to cheney? u need to change ur name to king of cr*p
chairman cheny... Invented hunting rights and attorney control. A clear vision. A liberator of all people in the name of family.
ahhh i see. . .ur bein sarcastic? ok i can deal with that. . u go with ur bad self lol
The issue with the economy is that ppl spend too much time blobbing and prettying up their facebook pages and don't spend enuf time doing real work. Or better yet looking for a job! I blame the Internet! Shame on you..
well joeblow what u doin besides bit*hin bout us? and i have a job do u?
Leona where art thou leona, it will get better miss helmsley,just remember your republican loyalist get the better slice of CAKE, leona, where art the witch,leona!
@Ceasar can we pleeeease stop bringing up her name! @jeff frank negativity is counter productive good news is good news quit whining about how long it will last as the stock market fluctuates always has always will. to sit a bi/ch is just a bring down so try to be less of a negative force.
Cheney is the posterboy for why we all need health insurance. he spent more time in the hospital than in his office but other Americans with similar or worse health problems can die in the street because republicans dont want us to have the same benefits
Please refer to the amtimatter news for clarification. This news is some help in who should get an ASTERIK with a guaranty on an antimatter followup.