S&P surges to post biggest one-day gain in a year

The S&P 500 has risen by 2% overnight as US stocks continue to rally from the lows sustained last week.

A healthy set of results from Apple helped boost optimism, as did earlier reports the European Central Bank (ECB) is considering buying corporate bonds in its bids to boost lending in the eurozone. The S&P closed up 2% at 1,941, its largest daily rise for 12 months, and has now risen over 4% since last Wednesday. Apple closed up 2.7% after quarterly earnings beat forecasts. Ten-year US treasury yields also rose again, to 2.22%, returning to the levels seen prior to the ‘flash crash’ in yields a week ago. Suggestions the ECB could extend its asset purchase programme - which began t...