Dow posts biggest single-day point gain in history

The Dow Jones Industrial Average closed 1,086 points up — a nearly 5% gain — on Wednesday, the index's largest single-day point gain in history. The Nasdaq finished up 5.84% and the S&P 500 up 4.96%.

Why it matters, per Axios' Felix Salmon: Stock market volatility is the new normal. All three of the United States' major stock indices easily erased their losses from Monday, which was their worst Christmas Eve on record.