India, Nov. 4 -- Stocks have moved sharply higher during trading on Wednesday, with the major averages all showing strong moves to the upside following the mixed performances seen in each of the two previous sessions.

The Dow is posting a standout gain, surging 1,299.62 points or 2.5 percent to 53,086.34 amid significant increases by shares of 3M (MMM), Amazon (AMZN) and Apple (AAPL).

The tech-heavy Nasdaq has pulled back well off its highs of the session but remains up 379.32 points or 1.5 percent at 25,751.33, while the S&P 500 is up 107.09 points or 1.4 percent at 7,676.01.

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