Stocks jump on relief about debt auction

NEW YORK (AP) — Investors are finding fresh reasons to bet on an economic rebound.

Stocks jumped Thursday as gains in commodities like oil signaled that traders expect a strengthening economy will demand more energy.

Ample demand at an auction for Treasury debt also eased fears that the government would have to pay higher interest rates to entice buyers. Higher rates on long-term bonds would also drive up borrowing costs for consumers buying cars and homes, which in turn could endanger an economic recovery.

Major stock indicators rose more than 1 percent, including the Dow Jones industrial average, which gained almost 104 points.