U.S. stocks continue to rally after wild ride

NEW YORK, Feb. 7 (Xinhua) -- U.S. stocks reversed early losses to trade higher around midday Wednesday, extending previous day's roller coaster ride to a second day.

Around noon, the Dow Jones Industrial Average jumped 313.15 points, or 1.26 percent, to 25,225.92. The S&P 500 increased 23.36 points, or 0.87 percent, to 2,718.50. The Nasdaq Composite Index was up 30.74 points, or 0.43 percent, to 7,146.62.

On Tuesday, the Dow traded in an over-1,100 point range throughout the session. It fell more than 500 points at the open, rebounded shortly afterward to a 1 percent gain and then witnessed wild swings before surging more than 600 points in the late trading day.

At the close, the Dow added 567.02 points, or 2.33 percent, while the S&P 500 and the Nasdaq jumped 1.74 percent and 2.13 percent respectively.

The wild swing on Tuesday followed a steep sell-off which was considered a "flash crash" in the previous session.

Analyst believed that the recent pullback was not linked to economic fundamentals. Instead, it was a healthy market correction that is welcomed and long overdue, which calmed anxious investors down and lifted equities up.

Investors also kept a close eye on key members of the U.S. Federal Reserve. Several officials, including San Francisco Fed President John Williams and Chicago Fed President Charles Evans, are due to deliver separate remarks later Wednesday.

There is no major economic data due out Wednesday. Enditem