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S&P 500 rises 3 percent


    NEW YORK (Reuters) - The S&P 500 rose 3 percent on Wednesday and was set to record its best day in eight weeks as U.S. and Asian economic data soothed worries about a global economic slowdown.

    The Dow Jones industrial average was up 247.49 points, or 2.47 percent, at 10,262.21. The Standard & Poor's 500 Index was up 30.26 points, or 2.88 percent, at 1,079.59. The Nasdaq Composite Index was up 61.82 points, or 2.92 percent, at 2,175.85.

    (Reporting by Edward Krudy; Editing by Jan Paschal)