Stocks leap about 4% in recovery, best day since 2011

U.S. stocks shot higher on Wednesday, rebounding from six consecutive days of declines that pushed the major averages into correction territory. ( Tweet This )

In addition to an oversold bounce, some analysts also attributed the gains to comments from the Fed's William Dudley that a September rate hike looks "less compelling" and a strong durable-goods report.

The major averages closed about 4 percent higher for their best day since 2011.
The S&P 500 closed higher, out of correction territory. Tech, financials, health care, consumer discretionary and staples are all out of correction territory. The companies in the index gained about $640 billion in market capitalization on Wednesday, but have still lost $268 billion in capitalization this week and are down $1.3 trillion over the last week-and-a-half.

The Nasdaq Composite closed on the edge of correction, up 4.2 percent on the day. 

Gains accelerated into the close, with the Dow Jones industrial average ending up about 620 points after rising as much as 637.31 points. - Read More at cnbc
Stocks leap about 4% in recovery, best day since 2011