Phew: US stocks return to black after summer swoon
Source: AP-Excite
By MARLEY JAY
NEW YORK (AP) Maybe you shouldn't have put your money under a mattress after all.
The stock market is back in the black for the year after a bruising late-August tumble that had investors worrying about their money in a way they hadn't in four years.
A three-week surge in stocks has now lifted the Standard & Poor's 500 index above where it was at the beginning of 2015 for the first time since the summer.
The S&P 500 fell 12 percent from its mid-July high to its depths in late August, as investors worried that slowing growth in China, along with continued economic weakness in Europe and Japan, would crush any hopes of stronger global growth.
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