The Dow surged 266 points to 11,397. It had declined nearly 240 points just yesterday.
The S&P rose nearly 29 points to 1,263.
And the Nasdaq composite gained 55 points to 2,319.
Advancing issues topped decliners by a 3 to 1 margin.
NYSE volume was 5 billion shares. The Nasdaq stock market saw trading of 2.2 billion shares.
Crude oil prices sank $2.54 to $122.19 a barrel on the New York Mercantile Exchange, extending a retreat from record highs above $147.
(Copyright 2008 by The Associated Press. All Rights Reserved.) AP-NY-07-29-08 1615EDT
