CHICAGO (WBBM NEWSRADIO) -- Stocks surged higher Wednesday as big victories from former Vice President Joe Biden during Super Tuesday boosted investors' appetite for stocks, especially those in the health care space.
The S&P 500 gained 126, the NASDAQ added 334 and the Dow Jones industrial average closed up 1,173 points, settling to 27,090.
"We certainly got a bounce, that being the Biden surge and his moving into contention with Bernie Sanders, a candidate that Wall Street obviously is not a big fan of," Chuck Carlson, CEO of Horizon Investment Services, said. "You put two things together, some traders bargain-hunting for a bounce and some relief in the uncertainty of a Sanders Democratic nomination. You throw that in with a market that is volatile to begin with right now; you get a 1,100-point move in the Dow today"
He adds that even with recent losses to the market, the time-tested Dow Theory still has a primary bullish trend.