Business

Hope for Fed help powers US stocks to big gain

By Pallavi Gogoi
Published June 12, 2012 9:18pm ET
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Hope for Fed help powers US stocks to big gain
FILE- In this Monday, June 11, 2012, file photo, Trader George Ettinger, left, works on the floor of the New York Stock Exchange. (AP Photo/Richard Drew/File) | Richard Drew

NEW YORK (AP) — Stocks staged one of their strongest rallies of the year Tuesday, erasing a big decline from the day before, after a Federal Reserve official said he supported more measures to stimulate the economy.

The Dow Jones industrial average shot up 162 points, and every major category of stock in the U.S. market closed higher.

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