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Wall Street Turmoil: Stock Market Extends Gains After Huge Rally

Futures are pointing to a healthy gain at the opening bell.
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By Erin McClam

Stocks soared again Thursday, adding to the gains of a monster rally a day earlier in a see-saw week on Wall Street.

In early afternoon trading, the Dow Jones industrial average was up 284, or 1.7 percent, to 16,570. On Wednesday, the Dow climbed 619 points, its third-biggest point gain on record, and the Standard & Poor’s 500 index posted its biggest percentage gain since 2011.

Stocks in China, battered for months, finally bounced back overnight. The Shanghai stock index jumped 5.4 percent. Concerns about an economic slowdown in China have triggered a week of volatility in markets around the world.

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Investors have been taken for a wild ride all week. On Tuesday, the Dow jumped more than 400 points at the opening bell and closed down 200 after a furious sell-off.

Erin McClam

Erin McClam is a senior writer for NBC News, responsible for reporting, writing and editing general news for NBCNews.com. Prior to joining the site in January 2013, McClam worked at The Associated Press, where he spent 13 years and was most recently financial markets editor. In that role, McClam was responsible for a team of five reporters and a deputy editor that covered the stock and bond markets, financial regulation and the nation's largest banks.

Prior to that role, McClam held a variety of jobs at AP, including being a national correspondent and an original member of its Top Stories Desk editing operation.

McClam lives in New York.