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US stocks rose today (NZ time), led by beaten-down shares of financial stocks, including Wells Fargo & Co., which reported a big buyback.
A brokerage upgrade boosted the stock of Merrill Lynch.
"It's been financially driven today. The financials have turned pretty nicely and they are driving everything. They've been beaten up so much they are due for a bounce," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
The Dow Jones industrial average was up 183.71 points, or 1.39 per cent, at 13,365.62. The Standard & Poor's 500 Index was up 23.40 points, or 1.63 per cent, at 1,456.46. The Nasdaq Composite Index was up 25.84 points, or 1.03 per cent, at 2,537.09.
- REUTERS
