By STAN CHOE and DAMIAN J. TROISE AP Business Writers
NEW YORK (AP) — Stocks are rising sharply on Wall Street, led by health care companies after Joe Biden solidified his contender status for the Democratic presidential nomination.
Investors see him as a more business-friendly alternative to Bernie Sanders.
Investors are also anticipating central banks around the world will offer more stimulus.
The S&P 500 jumped 1.5% to recover half of its loss from the day before.
Several measures of fear in the market eased, but Treasury yields remain near record lows in a sign of continued caution.
The yield on the 10-year Treasury note, a benchmark for home mortgage rates, fell to 0.96%.