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US STOCKS-Market rallies on Google, energy stocks

Fri Oct 17, 2008 1:48pm EDT

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(Updates to show stocks up 3 percent)

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NEW YORK, Oct 17 (Reuters) - U.S. stocks surged in volatile trade on Friday after tech bellwether Google Inc (GOOG.O) posted reassuring results and energy stocks tracked the price of oil higher.

The S&P 500 briefly rose more than 4 percent. Traders cited bargain-hunting as contributing to the steep rise.

The Dow Jones industrial average .DJI was up 250.25 points, or 2.79 percent, at 9,229.51. The Standard & Poor's 500 Index .SPX was up 33.88 points, or 3.58 percent, at 980.31. The Nasdaq Composite Index .IXIC was up 58.22 points, or 3.39 percent, at 1,775.93.

(Reporting by Kristina Cooke; Editing by Kenneth Barry)

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