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Stocks boosted in late day rally
US stocks staged a late-day reversal yesterday, rallying into the close in another volatile session as a sharp rise in materials shares boosted the S&P 500 and gains in Apple helped lift the Nasdaq.
The action shortly before the market’s close was a mirror image of Tuesday when stocks gave up gains in the last minutes of trading. The late rebound suggested investors saw value in the market after the S&P 500 fell just below 1,300 but also underscored the skittishness of the trading environment.
In the overall market, the Dow Jones industrial average dipped 6.66 points, or 0.05 per cent, to 12,496.15. The S&P 500 Index edged up 2.23 points, or 0.17 per cent, to 1,318.86. The Nasdaq Composite gained 11.04 points, or 0.39 per cent, to 2,850.12.