(CNBC) – The major stock indexes were set to snap multiday losing steaks Thursday as J.P. Morgan Chase led banks higher and iPhone maker Apple bounced 2 percent after dipping into bear market territory earlier in the week.
The Dow Jones Industrial Average erased a 200-point loss to trade up 250 points as both Apple and J.P. Morgan Chase climbed 2.5 percent. Caterpillar rose 4 percent on the latest trade headline, while Walmart and Home Depot weighed on the blue-chip index.
The S&P 500 rose 1.2 percent as gains in financials offset losses in consumer discretionary and utility stocks. The tech-heavy Nasdaq Composite added 1.9 percent as Alphabet added 2.2 percent and Netflix gained 1.7 percent.
