US stocks rose on Wednesday, a day after the worst selloff in three months for Wall Street, as a report showed the US private sector added more jobs than expected last month. Banking stocks - Tuesday's big losers - helped drive gains. The S&P financial sector index rose 1.2 percent. Morgan Stanley shot up 3.5 percent to $17.92 following a 5.3 percent drop in the previous session.
The Dow Jones industrial average gained 71.97 points, or 0.56 percent, to 12,831.12. The S&P 500 Index added 8.84 points, or 0.66 percent, to 1,352.20. The Nasdaq Composite rose 27.26 points, or 0.94 percent, to 2,937.58.