Share this article:
Markets surged after four trading days of declines.
The S&P 500 was up 2.8% to 2,420.70; the Dow Jones Industrial Average 2.8% to 22,404.76; the Nasdaq 3.8% to 6,428.37.
The yield on a 10-year Treasury bond rose 1.2% to 2.78%.
The price of gold ticked down 0.1% to $1,271.
The price of oil rose 7% to $45.50 a barrel.
Spectrum Pharamceuticals Inc. (Nasdaq: SPPI) was up 13.5% to $9.32 and a $987 million market cap. Shares are recovering following last week’s weeks decline from about $10.50 after the FDA declined ‘breakthrough therapy’ status for a lung cancer drug Spectrum is developing.
Banc of California Inc. (NYSE: BANC) was up 4.5% to $13.02 and a $660 million market cap, as part of a broader market recovery. Shares in the bank holding company have declined by about a third this year.