US stocks move higher, pound stabilizes

NEW YORK (AP) – Stocks closed solidly higher on Wall Street following even bigger gains in Europe as global markets stabilize following a two-day rout triggered by Britain’s vote to leave the European Union.

Energy stocks rose along with the price of crude oil Tuesday. Bank stocks, which had some of the biggest losses since the vote, also rose.

Exxon Mobil rose 2.3 percent and JPMorgan Chase gained 3.3 percent.

The Dow Jones industrial average rose 269 points, or 1.6 percent, to 17,409.

The Standard & Poor’s 500 index gained 35 points, or 1.8 percent, to 2,036. The Nasdaq composite climbed 97 points, or 2.1 percent, to 4,691.

The British pound recovered somewhat but remained near the 30-year lows it plunged to immediately following the British “leave” vote.

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