(CNBC) — U.S. stocks shot higher on Wednesday, rebounding from six consecutive days of declines that pushed the major averages into correction territory.
In addition to the recovery, some analysts also pointed 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 had their best day since 2011. The S&P 500 closed higher, out of correction territory.
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On Tuesday, stocks failed to close higher as the Dow and S&P 500 posted their biggest reversal since October 2008.