OBAMA'S MARKET

NEW YORK (CNNMoney.com) -- Stocks jumped Thursday, rallying for the third session in a row, as investors scooped up banks and other shares hit in the selloff that left the Dow at 12-year lows.

The Dow Jones industrial average (INDU) gained 240 points, or 3.5%, according to early tallies, managing a three-session rally for the first time since late January.

The S&P 500 (SPX) index gained 29 points, or 4%. The Nasdaq composite (COMP) gained 54 points, or 4%. (More from CNN)

UPDATE (Friday) Wall Street rallied at the end of a choppy session Friday as investors pushed the stock market's gains to four days in a row - its best stretch since late November.