) surged 2% on Thursday to reclaim 5,485, officially exiting correction territory after a 10% climb off its April 8 low (though it’s still down 10% from its record high in February). It marks the end of a bruising slump — and the beginning of what looks like a broad-based return to risk appetite (unless a scary tweet goes out). The Nasdaq Composite IXIC jumped 2.7%, notching its third straight gain of more than 2%, an achievement it hasn’t done since April 2001 — right in the heart of the dot-com bear market.

The Dow Jones Industrial Average DJI rallied 487 points, or 1.2%, to 40,093. It still needs to cross 41,410 to make its own comeback from correction land.