Dow....Wall Street flies on China comment

 Stocks rallied on Thursday as investor worry was eased after China refuted a report that it was reviewing its euro-zone bond holdings due to the region's debt crisis.

Thursday's gains marked the largest advance for the S&P 500 on a percentage basis since May 10, although volume was below average.

China's denial was enough of a catalyst to entice buyers into the volatile equity market, which fell sharply from April highs as investors worried that Europe's debt woes would spiral into a larger financial crisis.

"As you look through it, Europe is not getting worse," said Tim Holland, co-portfolio manager of the Aston/TAMRO Diversified Equity Fund in Alexandria, Virginia. "Trees don't grow to the sky, but did the market deserve to be off 15 percent in three weeks?"

The People's Bank of China said a Financial Times report that Beijing was concerned about its euro-zone exposure was groundless. The report had short-circuited a rally in the previous session.

Source: http://finance.yahoo.com/news/Wall-Street-flies-on-China-rb-3301338589.html?x=0&.v=19

DOW JONES INDUS. AVG	10,258.99	284.54	2.85%	16:30
S&P 500 INDEX	1,103.06	35.11	3.29%	16:59
NASDAQ COMPOSITE INDEX	2,277.68	81.80	3.73%	05/27
S&P/TSX COMPOSITE INDEX	11,749.12	205.22	1.78%	05/27

Poonam Chaturvedi