NY bounces back

3:31PM Dow regains one-third of Tuesday's loss ($INDU, $COMPQ) by Michael Baron
The Dow Jones Industrial Average ($INDU) is surging 118.53 points, or 1.4 percent, to 8.426.58, while the Nasdaq Composite ($COMPQ) is adding 27.43 points, or 2.2 percent, to 1,291.27. Both averages have bounced solidly off their respective session lows of 8,280.40 and 1,261.00. "We're seeing a rebound from yesterday's huge sell-off with techs and transports leading the way," said Stephen Carl, Principal and Head of U.S. Equity Trading, The Williams Capital Group. "Buyers came back in this afternoon once they realized the markets had stabilized."