Dow's 247-Point Gain Is Biggest In 3 Months; Investors Cheering - Spokane, North Idaho News & Weather KHQ.com

Dow's 247-Point Gain Is Biggest In 3 Months; Investors Cheering

NEW YORK (CNNMoney.com) -- Stocks surged over 2% Wednesday as signs of economic strength in the United States and China tempered worries about the European debt crisis.

The Dow Jones industrial average (INDU) soared 249 points, or 2.3%, according to early tallies. The S&P 500 (SPX) jumped 25 points, or 2.2%, and Nasdaq (COMP) added 51 points, or 2%.

It was the biggest one-day gain for the Dow since early September, and came after stocks ended November on a sour note, with all three major gauges marking declines for the month.

Stocks opened sharply higher Wednesday as investors cheered a batch of upbeat economic reports, including a strong gain in private-sector payrolls and better-than-expected auto sales.

The rally gained momentum after economists at Goldman Sachs (GS, Fortune 500) raised their forecast for U.S. growth next year to 2.7% from 1.9%. The Federal Reserve's latest snapshot of economic conditions showed the nation's gradual recovery continued in October and November.

"There's a growing sense the economy isn't doing as badly as was priced in three months ago," said Brian Gendreau, market strategist at Financial Network. "All it took was mixed news to price out the double-dip recession, now we're getting genuinely good news."

The improved outlook for U.S. growth overshadowed concerns about the debt problems facing some European economies. Those jitters were further eased by comments from the head of the European Central Bank, which raised speculation that the ECB is prepared to take additional steps to aid the European economy.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Upriver/Beacon Fire now 20 percent contained

    Upriver/Beacon Fire now 20 percent contained

    Wednesday, July 18 2018 9:08 PM EDT2018-07-19 01:08:31 GMT

    SPOKANE VALLEY, Wash. - Firefighters on the front lines of the Upriver Beacon fire are making progress on the 115-acre fire that started Tuesday evening.  Megan Hill, Public Information Officer for the fire, tells KHQ the fire is 20 percent contained as of Wednesday evening.

    >>

    SPOKANE VALLEY, Wash. - Firefighters on the front lines of the Upriver Beacon fire are making progress on the 115-acre fire that started Tuesday evening.  Megan Hill, Public Information Officer for the fire, tells KHQ the fire is 20 percent contained as of Wednesday evening.

    >>
  • Post Falls man dies in Spokane Valley crash

    Post Falls man dies in Spokane Valley crash

    Wednesday, July 18 2018 1:13 AM EDT2018-07-18 05:13:40 GMT

    SPOKANE VALLEY, Wash. - A Post Falls man died in a collision involving a motorcycle and semi truck Tuesday afternoon in Spokane Valley. Around 3:53 p.m., a Peterbilt semi-truck was heading westbound on Trent turning north into a private parking lot from the second lane when a Suzuki motorcycle in the first lane turned in front of the semi and collided. The driver of the motorcycle, 65-year-old Michael Arnold of Post Falls, was pronounced dead at the scene. 

    >>

    SPOKANE VALLEY, Wash. - A Post Falls man died in a collision involving a motorcycle and semi truck Tuesday afternoon in Spokane Valley. Around 3:53 p.m., a Peterbilt semi-truck was heading westbound on Trent turning north into a private parking lot from the second lane when a Suzuki motorcycle in the first lane turned in front of the semi and collided. The driver of the motorcycle, 65-year-old Michael Arnold of Post Falls, was pronounced dead at the scene. 

    >>
  • Fire lined vs. fire containment: What's the difference?

    Fire lined vs. fire containment: What's the difference?

    Wednesday, July 18 2018 1:48 PM EDT2018-07-18 17:48:19 GMT

    SPOKANE VALLEY, Wash. - We've had a lot of questions about what firefighters  are talking about when they say that the fire is 100 percent lined, but that the Upriver-Beacon fire is 0% contained. Here's the gist, according to firefighters: Containment is essentially their faith in the strength of the fire line. So when they say there is a line around 100 percent of the fire, but 0 percent containment, it means they are concerned that the fire could jump the line.

    >>

    SPOKANE VALLEY, Wash. - We've had a lot of questions about what firefighters  are talking about when they say that the fire is 100 percent lined, but that the Upriver-Beacon fire is 0% contained. Here's the gist, according to firefighters: Containment is essentially their faith in the strength of the fire line. So when they say there is a line around 100 percent of the fire, but 0 percent containment, it means they are concerned that the fire could jump the line.

    >>
HD DOPPLER 6i
/