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Posted: Wednesday, 09 July 2014 5:50PM

Markets Rebound After Consecutive Days of Losses



iStockphoto/Thinkstock(NEW YORK) -- Wall Street rebounded from a pair of down days on Wednesday, with all three major indices posting gains, while the federal government says it made approximately $100 billion in payments to people who may not have been entitled to them.

The Dow Jones Industrial Average finished at 16985.61, up 78.99 from Tuesday's close.

The Nasdaq climbed 27.57 to a close of 4419.03, while the S&P 500 ended the day up 9.12 to 1972.83.

A House Oversight subcommittee was scheduled to hold a hearing on Wednesday afternoon after it was determined that about $100 billion in tax credits were given to families that did not qualify. Among the payments made by the federal government were unemployment benefits to people who had jobs and medical payments for treatments that may not have been necessary.


Copyright 2014 ABC News Radio


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